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Fly News Breaks for May 23, 2018
TGT
May 23, 2018 | 14:13 EDT
Baird analyst Peter Benedict recommends using today's post-earnings weakness in shares of Target as a buying opportunity. Despite "solid" Q1 traffic and comps, Target shares are down 6% today due to higher expectations and Q1's "softer" margin performance, Benedict tells investors in a research note. He expects the company's comps to accelerate as "multiple top-line initiatives layer into the business." The analyst sees "good value" in the stock at current levels and reiterates an Outperform rating on Target with an $85 price target.
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