Will Target sales be back on track by next year?

One Wall Street firm thinks Target may be back on track by next year.

Citigroup predicts Target will see positive same-store sales in 2010. The firm upgraded its rating on the Minneapolis retailer’s stock this morning from a “sell” to a “buy.” It was up about 1.3 percent as of 9:20 a.m.

The reasons for its optimism include Target’s increased focus on food and its stronger margins on its private-label apparel. The company is also seeing improved sales of home furnishings, a department that has struggled the past year.

Sources: TheStreet.com, Wall Street Journal

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