Citigroup Upgraded Target (TGT) To Buy

Citigroup analyst Deborah Weinswig spoke on CNBC's Fast Money about the reasons that made her upgrade Target Corporation (NYSE: TGT) from sell to buy. She said that Target (TGT) lagged behind the competition because their main products were non-essentials.

Citigroup said that TGT changed its strategy and focused on the food through its P-Fresh format. This will make Target more competitive. Citigroup raised its price target for TGT from $44 to $61.

Karen Finerman commented that she is already long Target. TGT fell today 0.43% and closed at $48.24.