Target price target raised to $220 from $200 at Piper Sandler

Piper Sandler analyst Edward Yruma raised the firm’s price target on Target (TGT) to $220 from $200 and keeps an Overweight rating on the shares. The analyst believes struggles at Bed Bath & Beyond (BBBY) will drive a significant near-term share opportunity at Target. Piper’s analysis of Bed Bath’s store closures indicates that a Target store is located approximately 2.1 miles on average from the closed locations.