Why Target Stock Climbed Today
Shares of Target (NYSE: TGT) popped 5.4% on Tuesday, following bullish analyst commentary.
Jefferies analyst Corey Tarlowe boosted the firm's rating on Target's stock from hold to buy. He sees the discount retail chain's share price rising roughly 18% to $185.
Tarlowe acknowledged that Target, like many retailers, is facing a "challenging" market environment. Heightened inflation is denting its customers' budgets, while a sluggish economy and nearly constant predictions of an imminent recession are weighing on consumer sentiment. Yet Tarlowe argues that Target's depressed stock price -- its shares are down more than 30% in 2022 -- presents investors with an attractive buying opportunity.
Source Fool.com
