NEW YORK, June 3, 2013 /PRNewswire/ -- Target Corp. (NYSE: TGT: $69.50) has been picked by S&P Capital IQ as its Focus Stock of the Week. TGT carries S&P Capital IQ's highest investment recommendation of 5-STARS, or Strong Buy.
"Despite near-term headwinds related to higher taxes, delayed tax refunds and difficult weather comparisons, we expect consumer spending to accelerate later in 2013 and into 2014, driven in large part by improvements in the housing market," said Ian Gordon, equity analyst at S&P Capital IQ. "We look for improvements in sales of Target's home decor business, which generates above-average profit margins, but we also see higher traffic from remodeled stores with fresh grocery and increasing attractiveness of the REDcard rewards program to cost-conscious shoppers."
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