Target (NYSE: TGT) is one of the top big-box retailers in the country, but it isn't trading like one. While investors have been bullish on Costco Wholesale (NASDAQ: COST) and Walmart (NYSE: WMT) this year, there hasn't been nearly as much excitement around Target. The stock has been struggling thus far in 2023.

Yet, there are some catalysts that could make Target a much better buy toward the latter half of this year. Here's why investors should consider buying this beaten-down stock.

According to data from location analytics company placer.ai, during the first half of the year, retail visits have fallen 0.3% from a year ago. But one company that has been doing particularly well is Target, with its visits up 3.1% this year. That's higher than Costco's 1.2% increase and better than Walmart, which saw a decline of 0.9%.

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Source Fool.com