Monday, 25 June, 2018

Amazon Isn't Buying Target

Analyst predicts Amazon will purchase Target in 2018 Analyst predicts Amazon will purchase Target in 2018
Preston Stone | 12 January, 2018, 18:46

Amazon.com, Inc. (NASDAQ:AMZN), fresh off its $13.7 billion acquisition of Whole Foods past year, is about to make another huge splash in the brick-and-mortar retail space.

And the siren song for Amazon to pursue Target?

Target and Amazon spokespersons did not respond to requests from the media to comment on the Loup Ventures analyst's prediction.

"Amazon believe's the future of retail is a mix of mostly online and some offline", Munster said. Prominent analyst Gene Munster is predicting that Amazon's next move could be its expansion into the physical retail space with a takeover of Target this year. "Getting the timing on this is hard, but seeing the value of the combination is easy". But, uh, not only their Whole Foods acquisition, but also what they're doing, they're testing their Amazon Go-store right now, which is basically an automated offline.

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Target would be a powerful tool for Amazon in its quest to lure moms and get them hooked on its Prime services, according to Munster. But Amazon, the company that many people blame for the retail apocalypse has been more eager than ever to build up its retail presence. Year-to-date, AMZN has declined 0.00%, versus a 0.31% rise in the benchmark S&P 500 index during the same period. Stepping up from the approximately 470 stores from Whole Foods to some 1,800 with Target would be a huge jump.

Kotha also questioned whether this potential deal would change anything in the battle of Amazon vs. Walmart. Is it gives them not only the demographic that is kind of core to who Amazon is, but also the retail footprint that is important to servicing that 45 percent that eventually will be bought offline. The pair generated about $176 billion in 2017 US revenue against Wal-Mart's $315 billion, and Target's 2,300 sites would help diminish Wal-Mart's 11,695-store lead. "Amazon is No. 1, Walmart is No. 2 and Target is the distant No. 3".

He brushed off concerns over competition, telling Bloomberg Radio: "Investors would view this as Amazon taking over the world, and that's a good thing".

Munster noted the deal would not come without its fair share of obstacles, including increased scrutiny from the Trump administration that may look to use antitrust laws as a way to punish Jeff Bezos, Amazon CEO and owner of the Washington Post-which has regularly produced critical coverage of President Trump. Last month, CFRA bank analyst Ken Leon wrote that he foresees the Internet company buying a small- or mid-sized bank in 2018.

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