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Benzinga
Benzinga
Business
Akanksha Bakshi

Target’s Comeback Is Real, But Its Stock May Have Run Too Far: Analyst

Target Bank of America TGT Christopher Nardone NYSE Target Corp Target Corporation
Target Corp Corporate Headquarters In Minneapolis

Target Corporation (NYSE:TGT) is showing encouraging signs that its turnaround is gaining traction, but Bank of America remains cautious heading into the retailer’s fiscal second-quarter earnings report next week.

Bank of America Securities analyst Christopher Nardone reiterated an Underperform rating on Target while raising the price forecast to $124 from $110. The new forecast remains about 19% below the stock’s $152.29 price as of Aug. 12.

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