Target Shares Climb After Gordon Haskett Upgrade
2022.04.08 19:53
By Sam Boughedda
Investing.com — Target Corporation (NYSE:TGT) shares have been upgraded by Gordon Haskett analyst Chuck Grom Friday, with the firm’s price target raised to $300 from $255.
In a research note, Grom said that traffic trends in February and March have been “remarkably consistent” for Target, and with a later Spring/Easter shift to come, the trends could continue climbing.
The analyst forecasts multiple appreciation in Target shares, stating that sentiment is too negative on the stock and the market will gain confidence in Target’s model following the pandemic.
Target shares are trading more than 2% above Thursday’s close.
In early March, the company announced its Target Zero initiative that will help to reduce waste.
