Target "buy"

23.08.07 - Deutsche Securities

NEW YORK, August 23 (newratings.com) - Analysts at Deutsche Bank Securities maintain their "buy" rating on Target (TGT). The target price is set to $79.

In a research note published yesterday, the analysts mention that the company has posted its 2Q EPS in-line with the estimates and the consensus due to higher-than-expected contribution from the credit business and robust gross margins. Target?s gross margins were boosted by marginal markdown activity during the quarter, the analysts say. The company utilized its robust cash flows to buyback 7.5 million shares during the quarter, Deutsche Bank Securities adds.