Jefferies Lifts Target Price Target to $161 as Strategic Reset Shows Early Gains
Updated
Updated · Insider Monkey · Jun 28
Jefferies Lifts Target Price Target to $161 as Strategic Reset Shows Early Gains
1 articles · Updated · Insider Monkey · Jun 28
Summary
$161 is Jefferies' new target for Target, up from $140, with the bank reiterating a Buy rating after meeting CFO Jim Lee and other executives in Boston.
Jefferies said management sounded measured but confident on the retailer's strategic reset, citing early benefits from merchandising changes and a push toward faster, bolder execution.
Target shares have already rallied 35% this year, and the analyst said the easy money may be gone, though further operational progress could still draw long-term investors.
Guggenheim also turned more positive on June 12, raising its target to $145 from $140 after talks with CEO Michael Fiddelke and Lee about a go-to-market strategy built on specialization at scale.