Cowen Initiates Target At Buy, Wal-Mart At Hold

Cowen & Co.’s Oliver Chen, Steven Zaccone, and Courtney Willson aren’t just focusing on fashion today. They also initiated coverage of both Target (TGT) and Wal-Mart (WMT). First, the good news: Target. Chen and team initiated with an Outperform and $85 price target. They write that they are encouraged by sequentially improving traffic, positive comparable sales momentum, [...]