Target Corporation Reports First Quarter Earnings

Target (TGT) PT Lowered to $185 at UBS

UBS analyst Michael Lasser lowered the price target on Target (NYSE: TGT) to $185.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "In our view, TGT's 1Q had more positives than negatives. As a result, we believe the pullback in the... More

Target (TGT) PT Lowered to $181 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the price target on Target (NYSE: TGT) to $181.00 (from $191.00) while maintaining a Outperform rating.

The analyst comments "With the majority of the easy gross margin wins in the rearview, the focus, in our opinion, will shift... More

Target (TGT) PT Lowered to $175 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the price target on Target (NYSE: TGT) to $175.00 (from $190.00) while maintaining a Overweight rating.

The analyst comments "Timing the recovery has gotten trickier with macro uncertainty, but it's tough to ignore the risk/reward at current levels with the stock at... More

BofA Securities Reiterates Buy Rating on Target (TGT)

BofA Securities analyst Robert Ohmes reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "We reiterate our Buy. While near-term sales remain pressured, we believe TGTs focus on value positions it well for share gains going forward. Recently... More

Target (TGT) PT Lowered to $170 at Stifel

Stifel analyst Mark Astrachan lowered the price target on Target (NYSE: TGT) to $170.00 (from $177.00) while maintaining a Hold rating.

The analyst comments "Our F2024-F2025 estimates are largely unchanged following F1Q24 results where operating profit was ~2% below consensus. Despite the lower... More

Target (TGT) PT Lowered to $190 at DA Davidson

DA Davidson analyst Michael Baker lowered the price target on Target (NYSE: TGT) to $190.00 (from $195.00) while maintaining a Buy rating.

The analyst comments "Although TGTs valuation multiple is not overly demanding, the magnitude of TGTs margin and EPS beats over the... More

Target (TGT) PT Lowered to $160 at CFRA

CFRA analyst Arun Sundaram lowered the price target on Target (NYSE: TGT) to $160.00 (from $171.00) while maintaining a Hold rating.

The analyst comments "We cut our 12-month target to $160 from $171, 17x our FY 25 (Jan.) EPS of $9.44 (cut from $9.52; FY 26 up to $10.52 from $10.40) and... More

KeyBanc Reiterates Sector Weight Rating on Target (TGT)

KeyBanc analyst Bradley Thomas reiterated a Sector Weight rating on Target (NYSE: TGT).

The analyst comments "TGT results remain challenged by the consumer environment but show ongoing improvement and should support positive comps in 2Q. 1Q results were mixed, reflecting soft but improving trends... More

Goldman Sachs Reiterates Conviction Buy Rating on Target (TGT)

Goldman Sachs analyst Kate McShane reiterated a Conviction Buy rating and $194.00 price target on Target (NYSE: TGT).

The analyst comments "TGT reported 1Q24 EPS of $2.03, below GS/consensus (Refinitiv) of $2.15/$2.06. SSS came in at -3.7%, in-line with consensus, including declines in traffic... More

BMO Capital Reiterates Market Perform Rating on Target (TGT)

BMO Capital analyst Kelly Bania reiterated a Market Perform rating and $170.00 price target on Target (NYSE: TGT).

The analyst comments "F1Q25 slightly missed consensus EPS on in-line comps. GM% beat but remained supported by channel mix and lean inventory... More

Telsey Reiterates Outperform Rating on Target (TGT)

Telsey analyst Joseph Feldman reiterated an Outperform rating and $195.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported mixed 1Q24 results, with an inline comp of (3.7%), but slightly lower EPS of $2.03 vs. the FactSet consensus (FS) of $2.06 and our estimate of $2.10. The total comp of (3.7%) reflects a flattish... More

Stifel on Target (TGT): 'shares could underperform'

Stifel analyst Mark Astrachan reiterated a Hold rating and $177.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported F1Q24 results with comp consistent with consensus and operating income slightly below consensus mainly due to higher D&A expenses. Comp declined 3.7%, consistent with consensus, with operating... More

Citi on Target (TGT): 'comments on the call about expenses could temper the declines'

Citi analyst Paul Lejuez reiterated a Buy rating and $180.00 price target on Target (NYSE: TGT).

The analyst comments "

TGT missed consensus EPS driven by higher SG&A while comps were inline and GM beat. Mgmt reiterated F24 guidance as the qtr was inline w/their... More

Morgan Stanley on Target (TGT) Decline Post Earnings Update: 'market questioning whether bull case EPS is possible'

Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "Initial reaction to Q1'24: market questioning whether bull case EPS is possible. Q2'24 guidance seems good enough given recent stock pullback 1. Overall Q1'24 earnings were mostly in-line with GM better but SG&A worse. 2. While comp expectations for Q1 were subdued and in an appropriate range (minus 3 to minus 4), the market still expected... More

Roth/MKM on Target (TGT) Amid Stock 7%+ Decline Post Earnings: 'this print will be met with modest disappointment'

Roth/MKM analyst Bill Kirk reiterated a Neutral rating and $153.00 price target on Target (NYSE: TGT).

The analyst comments "With: 1) physical comparable store sales little improved throughout the boycott (1Q'24 -4.8% y/y vs. 2Q'23 - 4.3% y/y); 2) continued pressure on discretionary assortment; 3) increased... More

Target (TGT) stock drops on earnings miss

(Updated - May 22, 2024 9:42 AM EDT)

Target (NYSE: TGT) shares dropped more than 9% in early Wednesday trading, following its latest quarterly earnings, which saw it miss profit expectations.

The retailer reported Q1 EPS of $2.03, $0.03 worse than the analyst estimate of $2.06. Revenue for the quarter came in at $24.53 billion versus the consensus estimate of $24.51 billion.

In comparison to the same quarter last year, Target's revenue saw a decrease of 3.1%, with comparable sales declining by 3.7%. The company's digital comparable sales grew by 1.4%, with same-day... More