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BTCC / BTCC Square / Global Cryptocurrency /
Target (TGT) Jumps 6.7% as Bernstein Upgrade Adds Fuel to the Rally

Target (TGT) Jumps 6.7% as Bernstein Upgrade Adds Fuel to the Rally

Author:
Global Cryptocurrency
Published:
2026-03-04 14:35:02
20
1
BTCCSquare news:

Target Corporation shares surged 6.74% to $120.80 Tuesday after Bernstein upgraded the retailer from 'underperform' to 'market-perform.' Analysts cited impending tax refunds and Federal Reserve rate cuts as catalysts for consumer spending recovery.

The upgrade follows Target's disclosure of $5 billion in planned 2026 capital expenditures, including 30 new stores and AI/tech investments. Full-year 2026 guidance projects consistent net sales growth with EPS of $7.50-$8.50.

Tuesday's rally interrupted a three-day losing streak, though 2025 results showed vulnerabilities: net income fell 9.4% to $3.7 billion while sales declined 1.7% to $104.78 billion. Management acknowledges missteps in home goods merchandising and store investments.

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