Target's (TGT) Margin Recovery Occurring Faster Than Expected - Deutsche Bank

Deutsche Bank analyst Paul Trussell reiterated a Buy rating and $177.00 price target on Target (NYSE: TGT) on the belief that the company experienced an acceleration of trends as it moved past the slower back-to-school period.

The analyst stated "we now anticipate GPM will be down only 5 bps in 3Q (previously modeling down 85 bps) driven by an acceleration in discretionary sales presenting a very favorable category mix as well as our promo watch for August and September showcasing less promotional activity YOY".

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 $160.68 yesterday.

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