Q2 STOCKS TO BUY

Cowen "Incrementally More Upbeat" Toward This Retail Powerhouse

Shorts also look to be in covering mode

Managing Editor
Sep 26, 2019 at 9:22 AM
facebook X logo linkedin


Retail powerhouse Target Corporation (NYSE:TGT) is at it again, this morning up 0.6% to trade at $107.47, after Cowen and Company named TGT a "top pick" and hiked its price target to $130 from $120. The firm said while the stock's strong chart performance helps, the main driver making them "incrementally more upbeat" is the company's recent strong quarterly results and improved margin outlook. Cowen joins a slew of already upbeat analysts covering Target stock; 11 "strong buy" ratings and just seven "hold," with not a single "sell" on the books.

At the moment, short sellers look to be in covering mode on Target stock. During the most recent reporting period short interest fell just 4%, and now accounts for 3.9% of its total available float. At the security's average pace of trading, it would take shorts just under four days to buy back their bearish bets.

On the charts, TGT has tacked on 61% and has had no fewer than three major bull gaps in 2019. In fact, the shares broke above brief pressure of its 120-day moving average back in May, and then used the same trendline as a floor of support during the first half of August. This positive price action paved the way to the equity's Sept. 6 record high of $110.94. What's more, just last week the shares saw another push higher after announcing a $5 billion share buyback plan.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter