Jefferies Remains Sidelined on Target (TGT) Following 3Q - PT to $75
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Jefferies reiterated a Hold rating on Target (NYSE: TGT), and raised the price target to $75.00 (from $72.00), following the company's 3Q earnings report. Electronics & entertainment underperformed, but Q3 improved with new product introductions. Pharmacy scripts in the CVS business at Target continue to run below initial expectations, but are starting to show signs of improvement with increased marketing.
Analyst Daniel Binder commented, "Today’s EPS beat off low expectations drew a rally in the shares, but mgmt. still needs to figure out how to solve its traffic problem and the imbalance between signature categories and the rest of the store. Food & consumables pricing remains intense while deflation continues to amplify problems. Meanwhile, we think a swing in electronic comps could show meaningful improvement in comps in Q4, albeit lower margin."
Shares of Target closed at $76.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- MKM Partners Raises Price Target on Arista Networks (ANET) Following U.S. Customs and Border Protection Approval
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!