Target Price Target Hiked to $178 by Royal Bank of Canada

Royal Bank of Canada increased its price objective for Target (NYSE:TGT) from $166.00 to $178.00, citing a potential upside of 10.44% from the stock's current price.

The firm has an 'outperform' rating on the retailer's stock, and several other analysts have also issued reports on Target in recent weeks.

Bank of America reiterated its 'underperform' rating and set a $124.00 price objective, while Wells Fargo & Company restated its 'overweight' rating with a target price of $185.00.

Target has seen its revenue grow 5.3% year over year, with comparable sales rising 3.8%, supported by a 3.6% increase in traffic.