TGT Stock – UBS Analyst Upgrades Target: What You Need To Know
On The Positive Side: Lasser stated the upgrade was inspired by the retailer’s respectable financial performance as the economy moves into a post-COVID-19 pandemic era.
Lasser acknowledged there was still skepticism embedded into the stock, but he argued its modest valuation especially when compared to its competition, also insisting there’s more to come for the company as the year progresses.
We believe TGT has distinguished itself in many ways over the last few years, but most importantly, it generated avg traffic growth of 4.8% over the last 13 Qs, he wrote. This is on par w. HD (4.9%) & (LOW) (4.8%) and above COST (4.5%), showing how relevant it has become w. consumers.
Lasser added Target’s ability to attract and drive consumer traffic ensured it is able to generate a virtuous cycle where it attracts more compelling products (such as Levi’s, limited-time designs, etc) & is able to invest more into its business.