Wolfe Research upgraded Target (TGT) to Peer Perform from Underperform without a price target ahead of the company’s investor day on March 3. The firm sees a “wide margin of safety” for Target despite its reduced estimates given the company’s owned real estate. Real estate makes up 70%-75% of Target’s enterprise value and there are already signs of the company’s underlying business improving, the analyst tells investors in a research note.
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