TARGET STOCKS RISE ON RATING UPGRADES
Target’s stock is currently trading at 71.65-higher by 1.06% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.82%. The stock has continued gaining after the opening bell.
Investment bank Morgan Stanley upgraded Target’s stocks on Monday. The bank upgraded the stock’s rating to equal-weight from underweight. Morgan Stanley reiterated its $67 price target. The investment bank upgraded the retailer’s stocks since it sees improving margins and a more balanced risk/reward for the company.
The bank also thinks that the risk the retailer misses its margin guide is appropriately reflected in the share’s relatively inexpensive valuation. Target is scheduled to report its earnings on Wednesday. Stocks of the retailer have rallied 7% so far this year.
On the technical front, the RSI is currently at 30.91% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 71.48 TAKE PROFIT AT 72.24 STOP LOSS AT 71.10