Goldman Sachs upgraded Target to Conviction Buy from Buy with a $176 price target. The firm added Target (TGT), Ally Financial (ALLY) and Installed Building Products (IBP) to its Conviction List, while removing JP Morgan (JPM), Republic Services (RSG), Okta (OKTA) and WW International (WW) as part of its monthly “Directors’ Cut” revisions. For Target, the analyst sees a compelling entry point for a company that will get a boost from a return to discretionary spending from a “buoyant” U.S. consumer in a soft landing economy.
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