Target: Jefferies confirms buy rating after key appointment

(CercleFinance.com) - Target announced this morning that Jim Lee, the current deputy CFO of PepsiCo, will take over as CFO on 22 September, replacing Michael Fiddelke, who was recently promoted to COO.


Following this announcement, Jefferies confirms its Buy recommendation on the stock, along with its target price of $195.

We believe that Mr. Lee's experience in food and beverages will benefit Target as the company looks to broaden its offering and value in the sector. We are optimistic about this hire and reiterate our buy rating and target, Jefferies says.

We believe there is still an opportunity to achieve a potential operating margin of +7% under Mr. Lee's leadership, it adds.


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