Jefferies Remains Sidelined on Target (TGT) Following 3Q - PT to $75

November 17, 2016 8:36 AM EST
Get Alerts TGT Hot Sheet
Price: $64.10 -1.97%

Rating Summary:
    7 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

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 $76.03 yesterday.

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