Weakness in Target Corp (NYSE: TGT) since late March is an opportunity to buy a quality name at a discount, as per analysts at Citi. 

The investment firm raised its rating on the retail behemoth this morning to “buy”. Its shares, the analysts are convinced, could climb to $180 or 13% from here. 

Citi turned bullish on Target stock today as its experts now see it on a stable path after a year or two of turbulence. 

Target shares have lost about 10% in just over a month but are still currently up more than 15% versus the start of 2024. 

Citi recommends owning Target stock as its inventory levels are now well-managed. 

Favourable sales comparisons may also be a benefit for its share price moving forward, its analysts told clients in a research note on Tuesday. 

$TGT is scheduled to report its financial results for the first quarter later this month. Consensus is for it to earn $2.02 a share versus $2.05 per share a year ago. 

Note that Target Corp that’s partnered with Hudson’s Bay currently pays a dividend yield of 2.75% which makes up for another good reason to have it in your investment portfolio. 

The post Target stock has lost 10%: could its upcoming earnings change that? appeared first on Invezz