Target Upgraded To Buy, Well Prepared For Holiday Season (TGT)

Wed. October 28, 2009; Posted: 02:08 PM

Oct 28, 2009 (SmarTrend(R) News Watch via COMTEX) -- TGT | Quote | Chart | News | PowerRating -- 10/28/2009 - Target Corp. (NYSE:TGT) was upgraded to "buy" from "sell" by a Citi Investment Research analyst, saying that the company has "all its ducks in a row" ahead of the holiday season. Analyst Deborah L. Weinswig said she expects that the company's sales in stores open at least a year to turn positive in Q4 as the holiday season arrives. September marked the first positive month since October of 2007. The store was hurt by less revenue in its nonessentials category and forced the company to further expand into the food business to drive shoppers into the store more frequently. Looking forward, Weinswig said, " We also believe TGT has a long runway of productivity improvements ahead, driven by improved labor scheduling, rigorous expense line reviews and increased management accountability and in-store technology investments." She raised her price target from $61 to $44.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Target Corporation (TGT) click here. Target Corporation (TGT) has Short Term PowerRatings of 5. Details on Target Corporation (TGT) Short Term PowerRatings is available at This Link.

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