TGT - Target Stock Has 23% Upside According to 1 Wall Street Analyst
2024-03-12 11:49:00 ET
If you're like many people in the U.S., you visit your local Target (NYSE: TGT) store at least once in a while for necessities. The company runs one of the busiest and most successful retail networks in the country, and a recent recovery from certain post-pandemic managerial stumbles has made its stock popular again.
Still, in the view of several stock analysts, Target remains undervalued. Let's put one under the microscope and explore his reasons for thinking the retailer's shares have more room to run.
The prognosticator in question is European lender Deutsche Bank 's Paul Trussell. In early March he upgraded his recommendation on Target from hold to buy. In doing so he also made quite the substantial raise to his Target price ... erm, target. He now believes the stock is worth $206 per share, which is well above his previous $149 level. That represents 23% upside from Tuesday's prices around $168.
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Target Stock Has 23% Upside, According to 1 Wall Street Analyst