Target (TGT)

by | Oct 26, 2023 | Daily Trade Alerts

One of the best ways to protect your portfolio and generate income in tough times is with solid, dividend-paying stocks. Look at beaten-down shares of Target (TGT) for example. Not only is it likely to benefit from back to school sales, but also holiday sales. Plus, while investors wait for the retailer to recover, they can collect its latest dividend of $1.10 per share, payable on Dec. 10 to shareholders of record as of Nov. 15.

Even better, after a recent pullback to less than $107, the stock appears to have caught strong support again. From a current price of $110.36, we’d like to see TGT retest $125 near term. Helping, Bank of America recently upgraded the stock to a buy rating, with a price target of $135 a share. All with analysts expecting increased foot traffic in the next few months.

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