Jefferies Reiterates Buy Rating on Target (TGT) following new CEO appointment

Jefferies analyst Corey Tarlowe reiterated a Buy rating and $195.00 price target on Target (NYSE: TGT).

The analyst commented: "TGT has announced the appointment of Jim Lee as the company's new CFO. Mr Lee joins TGT after ~26yrs at PEP, most recently as deputy CFO. Mr Lee's predecessor, Michael Fiddelke, was promoted to COO earlier this year. We believe that Mr Lee's experience in Food & Beverage will be beneficial for TGT as the company looks to expand its offering and value in the category. We are bullish on the hire and reiterate our Buy rating and PT."

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 $156.49 yesterday.

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