HSBC Upgrades Target to Buy with Raised Price Target of $190
HSBC upgraded its rating for Target (TGT) from Hold to Buy and increased the price target from $125 to $190. The firm cited that Target's turnaround is gaining momentum, suggesting there is further upside potential in the stock. Following the upgrade, shares of Target rose approximately 2%. The analyst report highlights improved performance at the retailer, which has been driven by better-than-expected sales and operational improvements. HSBC’s positive outlook reflects confidence in Target’s ability to sustain its momentum going forward.
Topics: price target retail stock upgrade