BofA Securities upgraded the stock to Buy on Thursday, citing improved foot traffic and margins.
Target finally caught a break. BofA Securities upgraded the shares on Thursday, sending them higher in early morning trading.
At current levels, Target shares are “compelling,” he wrote in a client note upgrading them to Buy from Neutral. He also raised his price target to $135 from $120. Target stock was up 1.3%, at $110.43, in recent trading. The S&P 500 was down 0.1%. The analyst predicts that Target’s foot traffic could improve through the end of the year, receiving a boost from its October Circle Week, initiatives such as curbside Starbucks deliveries, and the rollout of new brands and partnerships.
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