Target Wants to Bet on a Sure Thing ...
After inventory challenges, Target is ready to bet on something that is a sure thing, Apple ( AAPL) . Apple for holiday shopping seems like a no-brainer, so Target is going to more than double down on it. Target has tripled the number of Apple shop in shop locations, and conveniently just before the holidays hit. Target now has 150 shop in shop Apple mini stores.
Members of the Target Circle will have special access to Apple offers from Apple Music, Apple Arcade, Apple News+ and iCloud+, as deals could be up to five months free. To sweeten the deal for Target Circle Members, they have an exclusive free offer of four months trial of Apple Fitness. No purchase is required for Target Circle Members to take advantage of this exclusive offer. It is also completely free to become a Target Circle member. The membership is a loyalty program from Target shoppers. “Apple Fitness+ is designed to be welcoming to all, no matter where you are on your fitness journey," Jay Blahnik, Apple vice president of Fitness Technologies, said in a statement.
Apple Fitness+ has over 3,000 workouts and meditations to choose from, with new ones added each week, ranging from five to 45 minutes across 11 workout types and all led by a team of motivating trainers, Blahnik said.
"We look forward to bringing Fitness+ to even more people and helping them lead a healthier day by being more active, through this collaboration with Target,” Blahnik said.
“For years, Target has been a destination for Apple products," Jill Sando, Target executive vice president and chief merchandising officer said in a statement. "Now we are excited to deepen our collaboration with Apple so even more guests can access the exceptional Apple at Target shop-in-shop experience."
thestreet.com
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When I look at the valuation for TGT, here is what I see:
In determining the intrinsic value of TGT, using the Base Scenario by Alpha Spread, the fair value price is $187.59 making TGT undervalued by 11%.
Valuentum has fair value at $179.00.
Morningstar has fair value at $167.00.
The current price is $167.19. |
