Target price target raised to $130 from $115 at Wells Fargo

Wells Fargo analyst Edward Kelly raised the firm’s price target (TGT) on Target to $130 from $115 and keeps an Overweight rating on the shares. Investor day a big event, with investment the key question as Target looks to get back on track, the firm says. With the stock up 17% year-to-date, the set-up seems tricky. Wells sees room for the new CEO to fund investment and deliver results in a stimulus backdrop.