UBS Boosts Price Target, Estimates for Target Ahead of Earnings (TGT)

Department store operator Target Corporation (TGT) on Monday caught some bullish commentary from analysts at UBS.

The firm maintained its “Buy” rating on TGT and lifted its price target to $71. That new target suggests a 14% upside to the stock’s Friday closing price of $62.36.

UBS also raised its earnings estimates for the company, citing expectations for solid second quarter results. TGT is slated to deliver its Q2 earnings report on Wednesday, Aug. 15.

Target shares were unchanged in premarket trading Monday.

The Bottom Line
Shares of Target (TGT) have a 2.31% dividend yield, based on Friday’s closing stock price of $62.36. The stock has technical support in the $57-$58 price area. If the shares can firm up, we see overhead resistance around the $65-$66 price levels.

Target Corporation (TGT) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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