It has been a bull's-eye year for Target. The second-largest discount retailer in the U.S. has rallied more than 12% year-to-date.

Despite those gains, Barclays downgraded Target from Overweight to Underweight and cut the price target from $90 to $70. In a research note, the firm cited substantial pressure within e-commerce.

The Halftime Report experts believe Barclays' missed the mark on Target and disagree with the call.

This call is ludicrous, according to Pete Najarian. "This seems absolutely nuts to me. Management is unbelievable and Target is so strong in this environment," he said.

Joe Terranova believes Target will top $100 before it hits $70. Terranova wouldn't be a seller here.

Tailwinds are favorable here, said Sarat Sethi. "The consumer has more money in their wallet and will spend more money," Sethi added.

—By CNBC Producer Bree Kelly. Follow her on Twitter @Bree_Kelly

Trader disclosure: On March 31, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Halftime Report" traders:

JOSH BROWN: Long AAPL, BABA, CORE, DE, DNKN, GE, JMBA, LNKD, SAM, SHAK, SPWR, TWTR, XLE

SARAT SETHI: Long AA, AAL, AAPL, ACN, BWA, CSCO, DAL, DGI, DLPH, F, FB, GE, GM, GOOG, HAR, HON, JWN, LB, M, MSFT, QCOM, SJM, UAL, V, WFM, XPO, YHOO, YUM

PETE NAJARIAN: Long AAPL, BAC, DAL, EGO, HAIN, HOG, KO, KSS, LC, LPX, MDLS, MET, MSFT, MXIM, NEM, POT, SCHW, SLW, TCK, UAL, WYNN, ZIOP, EWZ, GDX, SLV, COP, LVS, He is long calls AAPL, AKS, AMJ, BAC, BMY, CL, CSCO, DIS, DISCA, GE, GRPN, KMI, KMI-A, LUX, MRK, PEP, PFE, SAVE, VIAB, XOM he is long puts CHK, DB, HAB, HES, PBR, RY, VLO

JOE TERRANOVA: Long VRTS.