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Fly News Breaks for August 21, 2019
TGT
Aug 21, 2019 | 13:52 EDT
Baird analyst Peter Benedict reiterated an Outperform rating on Target and raised his price target to $115 from $90 following the company's "impressive" Q2 results and upwardly revised guidance for fiscal 2019. In a research note to investors, Benedict says the "beat and raise" reinforces his view that investments in stores, service, brands, and fulfillment options can support continued profitable market share growth at Target. Benedict also says he is closing out his tactical "Fresh Pick" designation established on April 29 following the call's ~32% alpha generation.
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