Target upgraded to "buy" - update

17.05.07 - A.G. Edwards & Sons

NEW YORK, May 17 (newratings.com) - Analysts at AG Edwards upgrade Target Corporation (TGT) from "hold" to "buy." The 12-18 month price objective is set to $71.

In a research note published this morning, the analysts mention that the upgrade in rating follows the recent underperformance of the company?s share price. Target?s fundamentals, based on the company?s efficient operation base and superior trend identification/item merchandising, continue to be robust, the analysts say.