Target upgraded by JP Morgan as the retailer is proving safe from Amazon 'boogeyman'

"In our view, TGT does not need to outrun AMZN for a revaluation, rather it needs to outcomp other home and apparel retailers, namely the mall based retailers, department stores, and specialty home retailers, for the valuation rerating to materialize," J.P. Morgan's Christopher Horvers said in a note to clients Thursday. Big-box retailer Target TGT is proving to be safe from the threat of Amazon AMZN , according to J.P. Morgan.