Jefferies Maintains Hold Rating and $51 PT on Target

A report from Jefferies reiterates its Hold rating and $51 price target on Target Corp.

. The report states, “Target's 1.8% comp in November doesn't look bad considering the comparison. The promotional plan is higher in December and comparisons are easier, so we expect a better sales performance. We think higher promotion y-y in November from some competitors could have hurt traffic, but Black Friday was up in line with the month.” TGT closed yesterday at $52.70.