Raymond James Reiterates Market Perform Rating on Target (TGT)
Raymond James analyst Matthew McClintock reiterated a Market Perform rating on Target (NYSE: TGT).
The analyst comments "This morning, before the market open, Market Perform-rated TGT reported F1Q25 results that fell short of consensus expectations and lowered its full-year earnings outlook (shares down ~4% in pre-market trading). Admittedly, consensus expectations were likely a little stale and buyside expectations were lower given the slower start to the quarter and recent consumer spending trends (discretionary softness, higher mix for TGT vs other retailers). The miss was driven by weaker-than-expected comp sales and margin pressure across both GM% and SG&A%. Additionally, the company announced several leadership changes and introduced a new enterprise acceleration office aimed at enhancing cross-functional execution."
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Shares of Target closed at $98.12 yesterday.