REDcard Driving Results at Target (TGT), PT Raised at UBS
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Price: $148.58 +2.83%
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 18 | New: 20
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 18 | New: 20
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UBS boosted its price target on Buy-rated Target (NYSE: TGT) from $69 to $71 following Q2 comps of +3.1% and conservative 2nd-half outlook of up 2-2.5%.
Target reports Q2 results on August 15th, and the firm sees EPS of $1.01, inline with Street and at approx midpoint of ~$0.96-1.06 GAAP guidance. "While some EPS upside possible on expense leverage, see little potential for comp guidance raise," the firm said.
UBS views Target's REDcard program as key to their investment thesis. "We view Target’s REDcard program and its ability to ringfence key customers and incentivize incremental spending as a key tenet of our Buy thesis on the stock," analyst Robert W. Carroll states. " We are looking for Q2 REDcard penetration of 12% (+330bps YOY, +40bps sequentially) weighted more heavily toward debit, with year 1 lift of ~40%."
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 $62.36 yesterday.
Target reports Q2 results on August 15th, and the firm sees EPS of $1.01, inline with Street and at approx midpoint of ~$0.96-1.06 GAAP guidance. "While some EPS upside possible on expense leverage, see little potential for comp guidance raise," the firm said.
UBS views Target's REDcard program as key to their investment thesis. "We view Target’s REDcard program and its ability to ringfence key customers and incentivize incremental spending as a key tenet of our Buy thesis on the stock," analyst Robert W. Carroll states. " We are looking for Q2 REDcard penetration of 12% (+330bps YOY, +40bps sequentially) weighted more heavily toward debit, with year 1 lift of ~40%."
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 $62.36 yesterday.
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