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Target Stock's Upside Looks Limited

Alan Farley

Target stock has recouped those losses into May but covered little new ground, stuck in a trading range that has now entered its fifth month. Sector sentiment has improved substantially since March, with department stores posting multi-month highs while rival Costco Wholesale Corporation ( COST) flirts with a bull market high. This bullish tailwind raises the odds for a buy-the-news reaction that lifts Target stock above stubborn resistance in the upper $70s.