Cowen Reiterates Outperform on Target (TGT) Following 2Q Earnings Release

August 17, 2016 9:48 AM EDT
Get Alerts TGT Hot Sheet
Price: $68.23 +0.77%

Rating Summary:
    7 Buy, 22 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Cowen reiterated an Outperform rating and $81.00 price target on Target (NYSE: TGT) following the company's 2Q earnings report. TGT beat estimates by +11c driven by better than expected GM, lower than expected SG&A, and slightly better sales.

Analyst Oliver Chen commented, "FY16 EPS guidance reset to $4.80-5.20 (prior $5.20-5.40) brackets the Street's current $5.13, but reduced 2H comps outlook (-2% to Flat in vs. our prior +1.5%) will likely hurt the stock today. We believe inexpensive P/E (~12-13x FY2 EPS) should limit downside & would be aggressive buyers if stock trades down more than EPS revision -MSD%."

For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.

Shares of Target closed at $75.48 yesterday.

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