The firm set a price target of $59 for the American general merchandise store company, up from its previous mark of $55.
Jefferies reiterated its "hold" rating and said it raised the company's price target because of the upcoming holiday season.
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"Our $59 price target is based on shares selling at about 16 x using FY16 (Jan 16) estimates, which are in part depressed by heavy losses in Canada," said analysts at Jefferies.
Separately, TheStreet Ratings team rates TARGET CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TARGET CORP (TGT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."