Target (NYSE:TGT) Estimates Increased by Jefferies

Earnings estimates for Target (NYSE:TGT) were raised by Jefferies for full year 2011, increasing by $0.04 to $3.90. For full year 2012, earnings estimates for the retailer rose by $0.02, to $4.32.

"While earnings results were in-line, shares should trade up on the following deviations from expectations: Nov. sales up mid-single-digits, 4Q sales are forecasted higher than recent trend, new credit-card signups for 5% loyalty program are tracking better than KC test and share buybacks remain aggressive even at these levels."

Target closed Thursday at $55.32, losing $0.30, or 0.54 percent. Jefferies has a price target on them of $64. A "Buy" rating is held on them as well.