Target Looks More Attractive Than You'd Think

Target is rated a buy, offering a more attractive valuation than WMT and COST despite recent share price gains. Target demonstrates strong profitability, with operating margin reaching 9.6% in Q2, even after excluding one-off tariff refunds. Forward P/E for TGT is ~14.7x, significantly below WMT and COST, while expected growth is nearly identical to WMT, suggesting potential for multiple expansion.