Market Overview

4 Reasons Piper Jaffray Likes Target

Share:
Related TGT
Walmart, Target Are Susquehanna's Top Picks Ahead Of Retail Earnings Season
Baird Upgrades Target, Says Retailer Has Positive Catalysts In Shipt, Store Remodels
Venture capital deals of the week (Seeking Alpha)

This morning, Piper Jaffray analyst Sean Naughton explained why he rated Target Corporation (NYSE: TGT) at Overweight. According to Bloomberg, at least 12 other firms agreed with the analyst's rating. Seventeen rate Target as a Hold.

Of the many reasons to warrant the Buy rating, Naughton mentioned "robust sales growth", coupled with a strong fourth quarter, were persuasive driving factors.

Related Link: Is Best Buy The Next Radioshack?

Another factor behind the positive rating was a strong U.S. Dollar, which can lower apparel import costs.

Also worth noting, Naughton discussed Target's "Redperks" Program. The analyst explained that in his opinion, the program has been a success thus far.

He currently holds an $85 price target on Target, above the Wall Street average price target of $77. As of Tuesday afternoon, the stock is trading near $76.65.

Latest Ratings for TGT

DateFirmActionFromTo
Feb 2018BairdUpgradesNeutralOutperform
Jan 2018SusquehannaUpgradesNeutralPositive
Jan 2018BarclaysUpgradesUnderweightEqual-Weight

View More Analyst Ratings for TGT
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas Price Target Analyst Ratings Trading Ideas

 

Related Articles (TGT)

View Comments and Join the Discussion!