Oppenheimer moved Target (TGT) back to “top pick status” while keeping an Outperform rating on the shares with a $165 price target The firm removed Target from its top pick ranking driven in part by apparel clearance inventory observations. With the reset out of the way, Oppenheimer sees a “very compelling risk/reward scenario developing.” The shares appear to be at or near a bottom amid negative investor sentiment and achievable Q4 guidance, the analyst tells investors in a research note.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
