UPDATE: UBS Starts Target (TGT) at Neutral, Low Probability of Hitting Canada Targets
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Price: $162.86 -1.3%
Rating Summary:
25 Buy, 19 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 14 | New: 50
Rating Summary:
25 Buy, 19 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 14 | New: 50
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(Updated - April 16, 2013 10:27 AM EDT)
UBS initiated coverage on Target (NYSE: TGT) with a Neutral rating and a price target of $75.00. Analyst Jason DeRise said all eyes were on Target's operations in Canada.
"Target will rapidly open its first 124 Canadian stores by year end. Target guides to US$6bn in sales and US$720m in EBITDA by 2017. We think the expansion is risky as TGT has little time to test its Canadian format . . .. The 2017 goal requires 15% higher sales/sqft and 200bps more EBITDA margin vs its current US stores. We see a low probability of TGT increasing achieving this," said DeRise.
For an analyst ratings summary and ratings history on Target (NYSE: TGT) click here. For more ratings news on Target click here.
Shares of Target closed at $68.48 yesterday.
UBS initiated coverage on Target (NYSE: TGT) with a Neutral rating and a price target of $75.00. Analyst Jason DeRise said all eyes were on Target's operations in Canada.
"Target will rapidly open its first 124 Canadian stores by year end. Target guides to US$6bn in sales and US$720m in EBITDA by 2017. We think the expansion is risky as TGT has little time to test its Canadian format . . .. The 2017 goal requires 15% higher sales/sqft and 200bps more EBITDA margin vs its current US stores. We see a low probability of TGT increasing achieving this," said DeRise.
For an analyst ratings summary and ratings history on Target (NYSE: TGT) click here. For more ratings news on Target click here.
Shares of Target closed at $68.48 yesterday.
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