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Morgan Stanley Boosts Numbers for Target; Says Sales Trends Looking Good (TGT)

By Dividend.com,  July 20, 2012, 09:05:06 AM EDT

Department store operator Target Corporation ( TGT ) on Friday caught some continued bullish commentary from analysts at Morgan Stanley.

The firm reiterated its "Overweight" rating on TGT and lifted its price target to $69. That new target suggests a nearly 13% upside to the stock's Thursday closing price of $61.25. Morgan Stanley noted that U.S. sales trends seem to be improving.

Target shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Target ( TGT ) have a 2.35% dividend yield, based on last night's closing stock price of $61.25. The stock has technical support in the $57-$58 price area. If the stock can firm up, we see overhead resistance around the all-time high price levels of $65-$68 a share.

Target Corporation ( TGT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: TGT



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