#2 - Target (NYSE:TGT)
Another retail stock that stands to benefit from consumer spending is Target (NYSE:TGT). This shouldn’t be a surprise to those who have been paying attention to the retail sector over the past 18 months. Target was an early adopter of the omnichannel model that now defines the winners from the losers in the retail space. In 2019, Target was considered to be on the ropes as it made a pivot to increase its e-commerce present.
That has turned out to be a brilliant move. As stores were closed for public health concerns, Target was able to cash in. The company was one of the few retailers to see stronger sales during the second quarter, and sales have continued to be strong.
Target stock is up about 38% for the year and is down about 2% in December. Analysts suggest that the stock has room to fall, but those opinions were issued before the news of further stimulus. Target looks to be a solid winner heading into 2021. And the Dividend King (with 52 years of annual distribution increases) is a good stock for growth and value investors.
About Target
Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.
Read More - Current Price
- $120.72
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 13 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $162.13 (34.3% Upside)
