Jefferies Downgrades Target (TGT) to Hold, Cuts Estimates
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Price: $70.65 -0.58%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade TGT Now!
Jefferies downgraded Target (NYSE: TGT) from Buy to Hold and cut its price target from $74 to $59.
"While we had high hopes for Target this season, we believe the company continued to struggle in a few areas, including poor online execution, soft December sales, poor results with the Neiman Marcus merchandising initiative, increased price competition (greater price matching), and more markdowns y-y. Tough comparisons loom in Q1, so shares may stay in a narrow range," the analyst comments.
Jefferies cut Q4 EPS from $1.49 to $1.40, FY12 EPS from $4.41 to $4.31 and FY13 EPS from $4.80 to $4.55.
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 $58.57 yesterday, with a 52 week range of $47.25-$65.80.
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"While we had high hopes for Target this season, we believe the company continued to struggle in a few areas, including poor online execution, soft December sales, poor results with the Neiman Marcus merchandising initiative, increased price competition (greater price matching), and more markdowns y-y. Tough comparisons loom in Q1, so shares may stay in a narrow range," the analyst comments.
Jefferies cut Q4 EPS from $1.49 to $1.40, FY12 EPS from $4.41 to $4.31 and FY13 EPS from $4.80 to $4.55.
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 $58.57 yesterday, with a 52 week range of $47.25-$65.80.
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