Deutsche Bank Reiterates a 'Buy' on Target (TGT); Q2 Preview - Buy Ahead of Print
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Price: $70.65 --0%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 16
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 16
Trade TGT Now!
Deutsche Bank reiterates a 'Buy' on Target (NYSE: TGT) price target of $65.00.
Analyst, Charles Grom, said, "We look for solid 2Q results, lacking surprises, as TGT has become a steadier retail story the past few quarters. With 2Q SSS directly in-line with guidance, we remain comfortable with our $1.02 EPS estimate (Street at $1.01) which is within the $0.94-$1.04 forecast. Looking ahead, we're also modeling 3.0% SSS in 2H12 as we expect TGT's consistency to continue, although we note that easy compares in 4Q along with new initiatives (e.g. Neiman partnership) could lead to some upside. All told, trading at 12.6x, TGT remains inexpensive, in our view, especially given that our FY13 EPS includes a 5.0% EPS drag from the Canada roll-out that should be quite accretive to the bottom line by FY14."
Sees Q3 EPS at $0.76 and wouldn't be surprised if TGT raised FY12 EPS estimate by $0.05 (from a range of $4.10-4.30)
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 $62.84 yesterday, with a 52 week range of $46.77-$63.00.
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Analyst, Charles Grom, said, "We look for solid 2Q results, lacking surprises, as TGT has become a steadier retail story the past few quarters. With 2Q SSS directly in-line with guidance, we remain comfortable with our $1.02 EPS estimate (Street at $1.01) which is within the $0.94-$1.04 forecast. Looking ahead, we're also modeling 3.0% SSS in 2H12 as we expect TGT's consistency to continue, although we note that easy compares in 4Q along with new initiatives (e.g. Neiman partnership) could lead to some upside. All told, trading at 12.6x, TGT remains inexpensive, in our view, especially given that our FY13 EPS includes a 5.0% EPS drag from the Canada roll-out that should be quite accretive to the bottom line by FY14."
Sees Q3 EPS at $0.76 and wouldn't be surprised if TGT raised FY12 EPS estimate by $0.05 (from a range of $4.10-4.30)
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 $62.84 yesterday, with a 52 week range of $46.77-$63.00.
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