As previously reported, Wells Fargo upgraded Target to Outperform from Market Perform, with analyst Edward Kelly stating that its "hard to ignore what's happening" at the retailer following its second quarter results, which he believes provide the "best evidence yet" that the company's strategy is working. He thinks the stock is poised to move higher even after the strong reaction to today's earnings, as he contends that the company's guidance looks conservative for the rest of the year. Kelly raised his price target on the shares to $115 from $80, concluding that Target has "earned itself a place in the select group of retail winners."