Why Target Hospitality Stock Surged Higher This Week
The majority owner of Target Hospitality (NASDAQ: TH) would like to buy the shares it doesn't already own. Investors are excited about the potential payout, sending Target shares up 22% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence.
Target Hospitality is a provider of modular accommodations and related services used in emergencies and in situations with temporary surging demand for lodging. The company went public via a 2019 merger with a special purpose acquisition company (SPAC).
Arrow Holdings, an affiliate of private equity firm TDR Capital, currently owns 64% of Target's shares, but it is looking to add to its stake. On Monday, Target announced that its board has received an unsolicited, non-binding proposal to acquire the remaining shares for $10.80 apiece.
Source Fool.com
Target Corp. Stock
Our community is currently high on Target Corp. with 33 Buy predictions and 12 Sell predictions.
However, we have a potential of -7.32% for Target Corp. as the target price of 119 € is below the current price of 128.4 €.
