Wolfe Research analyst Spencer Hanus upgraded Target from Peer Perform to Outperform. The adjustment signals increased confidence in the retailer's stock performance relative to its industry peers.

The upgrade moves Target's rating above the previous Peer Perform status, indicating a more favorable investment thesis. The report does not specify a new price target or detailed financial projections accompanying the rating change.

Target operates as a general merchandise retailer in the United States.

Target Corp (NYSE: TGT) shares are trading higher Friday after Guggenheim analyst John Heinbockel reiterated a Buy rating and lifted the price target to $145 from the previous $140. The revision signals increased confidence in the retailer's earnings momentum and margin recovery potential. This adjustment underscores the analyst's positive stance on Target's stock trajectory and suggests expectations of further upside.

The move builds on positive news from Thursday, when Target's board approved a quarterly dividend increase to $1.16 per share from the prior $1.14. This marks the company's 55th consecutive year of raising its annual dividend and its 236th straight quarterly payout since 1967.

Target continues to hold a strong technical trend structure. The stock trades about 8% above both the 20-day and 50-day simple moving averages, roughly 13% above the 100-day, and about 27% above the 200-day. The 20-day sits above the 50-day, and the golden cross that formed in January, when the 50-day moved above the 200-day, keeps the longer-term trend pointed higher.

Momentum supports this strength, with the MACD above its signal line and a positive histogram signaling improving upside pressure. With price now above the prior 52-week high at $133.10, that former ceiling can begin acting as support if the breakout holds. Key support is identified at $117.00.

Benzinga Edge rankings highlight Target's strengths: Momentum is Bullish (82.2/100), Quality is Bullish (74.95/100), and Value is Bullish (79.66/100), while Growth is Neutral (68.31/100). Target shares were up 2.25% at $135.62 at the time of publication on Friday, trading at a new 52-week high.