Piper Jaffray & Co. on Thursday predicted relatively strong holiday sales for Target Corp. despite the recent theft of credit and debit card information at its stores.
Thanks to strong sales of video-game consoles and a solid debut of its promotion to buy online, pick up in store, analyst Sean Naughton said he believes sales at stores open for at least a year will rise 1.5 percent, compared with his earlier prediction of flat results.
Naughton’s upgraded forecast factors in the fallout from revelations that thieves stole credit and debit card information from about 40 million Target customers.
