Morgan Stanley raised the firm’s price target on Target to $190 from $165 and keeps an Overweight rating on the shares. The firm cites the company’s improving market share, inflecting top-line growth, and a visible path to a above-6% EBIT margin while noting that its FY24 and long-term guide “lean conservative” with more levers to the upside than downside. Morgan Stanley further contends that Target’s traffic growth has held in relative to 2019, and the 14% 4-year stack in Q4 is well above 2019 levels.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TGT:
- Target (NYSE:TGT) Blasts Up Over 12% on New Subscription Plan
- TGT Earnings: Target Soars as Q4 Earnings Blow Past Estimates
- Options Volatility and Implied Earnings Moves Today, March 05, 2024
- Target Corporation Reports Fourth Quarter and Full-Year 2023 Earnings
- Notable companies reporting before tomorrow’s open
