Target Corp. (NYSE:TGT)‘s stock had its “buy” rating restated by investment analysts at ISI Group in a note issued to investors on Thursday, StockRatingsNetwork.com reports. They currently have a $70.00 price target on the stock. ISI Group’s price objective suggests a potential upside of 8.92% from the company’s current price.
The analysts wrote, “Target’s October 30th Investor Day is a chance to update long term goals, as well as outline strategies for turning the traffic and winning the hearts/wallets of Canadian shoppers. Target’s long term path to prosperity involves driving sales productivity and holding EBIT margins, with a modest top-line improvement likely as payroll tax cycles. That said, our August downgrade to Buy was a recognition that eCommerce pressures are secular – see Ten Potential Positives, Two Big Risks on 7/7 for more on traffic concerns. What could move the stock is frequency driving initiatives to narrow a 40% sales/ ft deficit vs. Walmart, raising buybacks/ dividends, or plans to jump-start Canada. Inside we deep dive category trends, multi-channel progress, and the Canadian market/competitor overlaps/ store demographics inside. Trading at 13x our CY14 EPS (20% dsct to peers) TGT reflects much of the risk that comps languish with upside to $70+ if traffic turns, and FCF inflects.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Target Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, October 18th. They now have a $58.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of Target Corp. from $75.00 to $70.00 in a research note to investors on Tuesday, October 1st. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank set a $64.00 price target on shares of Target Corp. in a research note to investors on Tuesday, October 1st. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $71.10.
Target Corp. (NYSE:TGT) traded down 0.20% during mid-day trading on Thursday, hitting $64.14. The stock had a trading volume of 789,415 shares. Target Corp. has a 1-year low of $58.01 and a 1-year high of $73.50. The stock’s 50-day moving average is $67.38 and its 200-day moving average is $68.8. The company has a market cap of $40.480 billion and a price-to-earnings ratio of 15.49.
Target Corp. (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.23. The company had revenue of $17.12 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Target Corp. will post $3.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Monday, November 18th.
Target Corporation (NYSE:TGT) operates in three segments: U.
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