Target (TGT) Stock Up After Halloween Controversy With Beauty Studio Reveal
TLDR
- Target stock edged up to around $164 after announcing September 10 as the launch date for Target Beauty Studio
- The studio will roll out in more than 600 stores and on Target.com, featuring 90 prestige beauty brands and over 1,600 products
- More than two-thirds of the brands will be new to Target
- The launch follows the end of Targetโs five-year partnership with Ulta Beauty earlier this month
- Wall Street rates TGT a Moderate Buy with an average price target of $165.06, implying about 2% upside
Target stock (TGT) edged higher to around $164 per share early Wednesday after the retailer confirmed September 10 as the launch date for Target Beauty Studio. The move came a day after a Halloween costume controversy pulled TGT down roughly 4% to $163.47.
Target Beauty Studio will launch in more than 600 stores and on Target.com. The new space will feature over 1,600 products from 90 prestige, emerging, and global brands. More than two-thirds of those brands will be new to Target.
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