Wolfe Research analyst Spencer Hanus keeps an Underperform rating on Target (TGT) with an $81 price target after the Financial Times reported that activist Toms Capital is building a stake in the retailer. An activist can help change the narrative at Target, which would be a positive, the analyst tells investors in a research note. The firm sees balance sheet and income statement investments coming at Target. The company’s price gaps on general merchandise products need to be closed and more labor hours are needed in stores, contends Wolfe.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TGT:
- Target Stock (TGT) Rallies after Activist Investor Takes a Significant Stake
- Mixed options sentiment in Target with shares up 2.29%
- Option traders moderately bearish in Target with shares down 1.0%
- Wolfe Research lowers Q4 SSS estimates for Target following website outage
- Walmart Stock (WMT) Slides as it Faces Baby Botulism Lawsuit