Target Corp (NYSE:TGT) shares are trading higher Thursday after Barclays named the stock a top pick in the retail sector.
According to a CNBC report, Barclays expects Target to remain strong even in a weak economy. The analyst firm highlighted the strong foot traffic trends that Target is benefitting from after gaining customers during the pandemic.
Barclays assigned Target an Overweight rating and a $280 price target.
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TGT Price Action: Target shares have traded between $184 and $268.98 over a 52-week period.
According to data from Benzinga Pro, the stock was up 5.96% at $228.89 at time of publication.
Photo: Mike Mozart from Flickr.
