Analysts and investors are reacting to the Target (NYSE:TGT) nabbing Jim Lee away from PepsiCo (NASDAQ:PEP) to be the retailer's new chief financial officer. Jefferies analyst Corey Tarlowe said the firm was bullish on the development.

Lee has more than 25 years of financial, strategy and business experience at PepsiCo (PEP.O), Target said, adding that he will oversee its financial planning and analysis, finance capabilities, internal audit and corporate development.

Target Corp. has named a new chief financial officer. Like Target CEO Brian Cornell, the new CFO has a background at PepsiCo, the food and beverage company.

Target has hired a PepsiCo executive as its new chief financial officer, the latest move in a series of recent leadership changes at the Minneapolis retailer. Jim Lee, the former deputy chief financial officer for Pepsi,