0942 ET - Investor sentiment toward Target has swung dramatically over the past year, UBS analysts say in a research note, as the retailer's turnaround strategy has begun to bear fruit. "A few quarters of mid-single-digit comparable sales growth have meaningfully altered the narrative," the analysts say. "The discussion has shifted from questioning the relevance of the business to debating its long-term earnings potential." Looking forward, though, Target will face tougher margin comparisons in the year ahead. Investors will have to decide whether the stock remains attractive, or whether it is fully valued.
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