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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Target Q2 Earnings Preview: Can Digital Growth and Store Traffic Recovery Counter Tariff Pressures?

Target Corporation (NYSE: TGT) is set to release its second-quarter earnings on Wednesday before the market opens. Investors are watching closely to see whether improving store visits and digital momentum can offset mounting challenges from tariffs and intensifying competition.

Earnings Snapshot:

  • Revenue Estimate: $24.93 billion (vs. $25.45 billion YoY)

  • EPS Estimate: $2.05 (vs. $2.57 YoY)

  • Historical Performance: Missed in Q1; 6/10 beat on revenue, 7/10 on EPS

Analyst Sentiment: Cautious

  • Bank of America: Downgraded to Underperform, PT cut to $93
    → Concerned about digital slowdown, margin pressure, and tariff exposure (50% of COGS from imports)

  • Telsey Advisory: Maintains Market Perform, PT $110

  • Truist: Hold, PT raised to $107

  • Evercore ISI: In-Line, PT raised to $108

Key Themes to Watch:

  • Store Visits: Q2 traffic down 3.1% YoY, but recovering from Q1’s -4.1%

  • Digital Sales: Strong Q1 digital growth, particularly in same-day delivery

  • Circle Week Boost: July 6–12 promo may uplift July results

  • Back-to-School Sales: Early indicators may shape Q3 outlook

  • Ulta Partnership Ending: Ends Aug 2026—investors await replacement plans

Risks and Opportunities:

 Opportunities:

  • Digital fulfillment and designer brand collaborations (e.g., Kate Spade)

  • Moderating store traffic declines

 Risks:

  • Tariff Impact: Target more exposed than Walmart (50% vs. 33% import reliance)

  • Competition: Walmart and Amazon expanding grocery & essentials

  • Guidance Risk: Another EPS guidance cut could pressure shares

Stock Snapshot:

  • Current Price: $105.44

  • YTD Performance: -21.98%

  • 52-Week Range: $87.35 – $167.40

Bottom Line: All eyes are on whether Target can stabilize growth amid competitive and macro headwinds. Another miss or downward guidance revision may weigh heavily on investor confidence

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