Dahlman Rose Starts Target (TGT) at Buy, Canada Opens Large New Market and Opportunity
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Price: $154.48 -0.66%
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dahlman Rose initiates coverage on shares of Target (NYSE: TGT) with a Buy rating and $58 price target.
The company is transforming its business to become a more all in one store for its customers. It has been adding more food and grocery products, which includes fresh food. The firm notes that it has been a struggle for TGT to maintain its "cheap chic" image, but believes that the second half of 2011 will show better results.
TGT's recent acquisition of up to 220 leases from Zellers for $1.83 billion should strongly contribute to its growth plan. There will be a lot of start up costs with the expansion in Canada, but once stores are officially opened costs will be minimal.
An analyst at Dahlman Rose reports, "TGT is not far off of historic troughs. While Target still needs to demonstrate its ability to appeal to shoppers with a wider food selection, yet retain its “chic” image, we think the risk/ reward equation is quite compelling here."
For more ratings news on Target click here and for the rating history of Target click here.
Shares of Target closed at $50.69 yesterday.
The company is transforming its business to become a more all in one store for its customers. It has been adding more food and grocery products, which includes fresh food. The firm notes that it has been a struggle for TGT to maintain its "cheap chic" image, but believes that the second half of 2011 will show better results.
TGT's recent acquisition of up to 220 leases from Zellers for $1.83 billion should strongly contribute to its growth plan. There will be a lot of start up costs with the expansion in Canada, but once stores are officially opened costs will be minimal.
An analyst at Dahlman Rose reports, "TGT is not far off of historic troughs. While Target still needs to demonstrate its ability to appeal to shoppers with a wider food selection, yet retain its “chic” image, we think the risk/ reward equation is quite compelling here."
For more ratings news on Target click here and for the rating history of Target click here.
Shares of Target closed at $50.69 yesterday.
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