Target Stock Surges on Takeover Rumors
Target's stock, which has been hovering near its six-year low, has sparked interest as a potential acquisition target due to its current price. The retailer's shares rose by 3% following a Fox Business report that mentioned Target as a potential takeover target by a private equity firm.
Rumors of a potential takeover have been circulating since May. However, they gained significant traction following Target's recent CEO replacement and better-than-expected second quarter results. The Fox Business report, which did not name the specific private equity firm, seems to have fueled this interest, leading to a 3% increase in Target's shares and a positive close for the day.
Target's stock, after a period of stagnation near its six-year low, has seen a boost following takeover rumors. The retailer's shares closed in the green, up by 3%, after a Fox Business report mentioned it as a potential target for a private equity firm. While the identity of the potential buyer remains unclear, the market has reacted positively to the possibility of a takeover.
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