Retail chain operator Target Corporation ( TGT ) on Wednesday saw its coverage initiated with a "Buy" rating by analysts at UBS.
The firm also set a $64 price target on TGT shares, suggesting a 19% upside to the stock's Tuesday closing price of $53.66.
UBS lauded Target's corporate strategy, noting the company is an aggressive retailer implementing several initiatives to retain its core customer base.
Target shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Target Corporation ( TGT ) have a 2.24% dividend yield, based on last night's closing stock price of $53.66. The stock has technical support in the $50 price area. If the shares can firm up, we see overhead resistance around the $56 price level
Target Corporation ( TGT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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