Barclays Maintains an 'Overweight' on Target (TGT); Shop 'Til You Drop
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Price: $70.65 -0.58%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade TGT Now!
Barclays maintains an 'Overweight' on Target (NYSE: TGT) price target of $65.00.
Analyst, Robert S. Drbul, said the collaboration with Neiman Marcus planned for Holiday 2012 position Target extremely competitively for the holiday selling season, particularly given the impressive list of designers and Target's success with past exclusives of a similar caliber such as Missoni and Jason Wu.
Drbul said, "We are currently estimating a 2% comp store sales increase for Target in 4Q12, on top of a 2.2% increase in 4Q11, which included a 1.6% increase in December. Given high end retailers outperformed the overall department store universe last December (with Nordstrom (NYSE: JWN) up 8.7%, and Saks (NYSE: SKS) up 5.8%), we believe a high end designer shop-in-shop has the potential to drive an additional lift at Target."
For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.
Shares of Target closed at $59.23 yesterday, with a 52 week range of $45.28-$59.49.
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Analyst, Robert S. Drbul, said the collaboration with Neiman Marcus planned for Holiday 2012 position Target extremely competitively for the holiday selling season, particularly given the impressive list of designers and Target's success with past exclusives of a similar caliber such as Missoni and Jason Wu.
Drbul said, "We are currently estimating a 2% comp store sales increase for Target in 4Q12, on top of a 2.2% increase in 4Q11, which included a 1.6% increase in December. Given high end retailers outperformed the overall department store universe last December (with Nordstrom (NYSE: JWN) up 8.7%, and Saks (NYSE: SKS) up 5.8%), we believe a high end designer shop-in-shop has the potential to drive an additional lift at Target."
For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.
Shares of Target closed at $59.23 yesterday, with a 52 week range of $45.28-$59.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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