Telsey Reiterates Market Perform Rating on Target (TGT)

Telsey analyst Joseph Feldman reiterated a Market Perform rating and $100.00 price target on Target (NYSE: TGT).

The analyst comments "TAG View: We maintain our 2Q25 estimates—comp of (3.5%) and EPS decline of (14%) to $2.22—and our 2025 forecast—comp of (2.5%) and EPS decline of (13%) to $7.71 vs. the guidance of $7.00-$9.00. Our projections assume: 1) soft consumer spending, especially on discretionary categories, 2) incremental costs, including promotions and investments in labor and technology, and 3) potential pressure from tariffs. Our review of Placer.ai traffic data also indicates negative trends in 2Q25. TAG Thesis: Target seems to be losing share to the likes of Amazon (AMZN, Outperform, PT=$235), Costco (COST, Outperform, PT=$1,100), and Walmart (WMT, Outperform, PT=$115). This should be partly offset by Target focusing on value, loyalty, and strategic initiatives—private brands, new stores and remodels, supply chain enhancements, digital and Drive Up, and Target+ marketplace. We maintain our Market Perform rating and 12-month price target of $110, which is based on applying a P/E multiple of ~14x to our NTM EPS estimate of $7.94."

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 $105.36 yesterday.

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