Q3 Preview: Analysts See Management Hitting the Bullseye at Target (TGT)
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Price: $154.48 --0%
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
20 Buy, 27 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Shares of Target Corp. (NYSE: TGT) are trading up on the day to $53.26 as the company is expected to report its third quarter fiscal 2011 results tomorrow ahead of the opening bell. The third quarter conference call is scheduled for 9:00 am EST. Dial-in: 1-866-359-9310 (Pass code: Target)
The Wall Street consensus has Target reporting earnings of $0.74 per share for the quarter on $16.27 billion in sales. Management's third quarter guidance calls for earnings of $0.70-$0.75. For the fiscal year 2011, the consensus estimates $4.23 per share in earnings on $69.93 billion in total sales. For the third quarter 2011, the company reported GAAP earnings of $0.74 per share on $15.6 billion in total sales.
Analysts rate shares of Target with 15 Buy ratings, 12 Hold ratings, and 0 Sell rating. The average price target on shares of TGT is $58.75, and range from $46 to $67.
Goldman Sachs highlights that they are buyers of shares of TGT ahead of earnings and is predicting that the company will post an upside quarter. The firm forecasts earnings of $0.75 per share for the quarter and believes comps will be at the high end of management's guidance of 4.3 percent.
Goldman still anticipates that management will offer conservative guidance for the next quarter, but will increase the low end of its full year 2011 earnings guidance by $0.10 to $4.25, and reiterate the upper end of $4.30.
An analyst at Goldman comments, "Over the past month, TGT shares have held flat versus a 6 percent S&P 500 increase. We see a similar set up as Kohl’s (NYSE: KSS) where improving comps and 3Q beat across lowered expectations drove stock outperformance. TGT's improving comps across margin-rich categories is likely to drive a 3Q beat; given muted expectations as the stock is one of only a few retailers down on the year, we expect stock outperformance on the print."
Just ahead of earnings, JPMorgan is reducing its earnings estimate for the quarter by $0.01 to $0.74 and its full year 2011 estimate by $0.01 to $4.21. The firm is maintaining its Overweight rating and $58 price target on shares of TGT, but notes that the company needs 2012 estimates to be rightfully valued.
An analyst at JPMorgan reports, "TGT continues to generate solid operating results in a tough environment with PFresh and 5% rewards building on a largely stagnant comp base and credit metrics and now sales driving potential near term EPS upside. Moreover, we expect the longer term Canadian expansion to be well executed by the company and well received by consumers. The optionality of accelerated earnings growth in future should be viewed attractive by the market so long as the medium term U.S. comps remain in the LTMSD range."
The Wall Street consensus has Target reporting earnings of $0.74 per share for the quarter on $16.27 billion in sales. Management's third quarter guidance calls for earnings of $0.70-$0.75. For the fiscal year 2011, the consensus estimates $4.23 per share in earnings on $69.93 billion in total sales. For the third quarter 2011, the company reported GAAP earnings of $0.74 per share on $15.6 billion in total sales.
Analysts rate shares of Target with 15 Buy ratings, 12 Hold ratings, and 0 Sell rating. The average price target on shares of TGT is $58.75, and range from $46 to $67.
Goldman Sachs highlights that they are buyers of shares of TGT ahead of earnings and is predicting that the company will post an upside quarter. The firm forecasts earnings of $0.75 per share for the quarter and believes comps will be at the high end of management's guidance of 4.3 percent.
Goldman still anticipates that management will offer conservative guidance for the next quarter, but will increase the low end of its full year 2011 earnings guidance by $0.10 to $4.25, and reiterate the upper end of $4.30.
An analyst at Goldman comments, "Over the past month, TGT shares have held flat versus a 6 percent S&P 500 increase. We see a similar set up as Kohl’s (NYSE: KSS) where improving comps and 3Q beat across lowered expectations drove stock outperformance. TGT's improving comps across margin-rich categories is likely to drive a 3Q beat; given muted expectations as the stock is one of only a few retailers down on the year, we expect stock outperformance on the print."
Just ahead of earnings, JPMorgan is reducing its earnings estimate for the quarter by $0.01 to $0.74 and its full year 2011 estimate by $0.01 to $4.21. The firm is maintaining its Overweight rating and $58 price target on shares of TGT, but notes that the company needs 2012 estimates to be rightfully valued.
An analyst at JPMorgan reports, "TGT continues to generate solid operating results in a tough environment with PFresh and 5% rewards building on a largely stagnant comp base and credit metrics and now sales driving potential near term EPS upside. Moreover, we expect the longer term Canadian expansion to be well executed by the company and well received by consumers. The optionality of accelerated earnings growth in future should be viewed attractive by the market so long as the medium term U.S. comps remain in the LTMSD range."
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