A week ago, Cleveland Research downgraded Target from Buy to Neutral. Target stocks closed at $59.21, a 3.8% loss over the course of one week.
In the past 52 weeks, Target share prices have been bracketed by a low of $47.25 and a high of $65.80 and are now at $59.10, 25% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.
Target Corporation operates general merchandise discount stores in the United States. The Company's merchandising operations include general merchandise and food discount stores and a fully integrated online business. Target also offers credit to qualified applicants through its branded proprietary credit cards.
Target (NYSE:TGT) has potential upside of 20.5% based on a current price of $59.10 and analysts' consensus price target of $71.24. The stock should run into initial resistance at its 200-day moving average (MA) of $60.50 and subsequent resistance at its 50-day MA of $62.22.