Target

Target (NYSE:TGT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/21/2024 11.32% Wells Fargo $155 → $165 Maintains Overweight 02/16/2024 3.22% Stifel $141 → $153 Maintains Hold 02/07/2024 14.69% Gordon Haskett → $170 Upgrades Hold → Buy 02/01/2024 — Goldman Sachs Maintains Buy 01/16/2024 11.32% Morgan Stanley $140 → $165 Upgrades Equal-Weight → Overweight 01/04/2024 4.57% Wells Fargo $148 → $155 Maintains Overweight 11/16/2023 -5.55% Roth MKM → $140 Reiterates Neutral → Neutral 11/16/2023 -4.2% Citigroup $117 → $142 Maintains Neutral 11/16/2023 -4.87% Stifel $130 → $141 Maintains Hold 11/16/2023 -12.29% BMO Capital $120 → $130 Maintains Market Perform 11/16/2023 5.92% RBC Capital $161 → $157 Maintains Outperform 11/16/2023 -15.67% JP Morgan $113 → $125 Maintains Neutral 11/16/2023 -0.15% TD Cowen $161 → $148 Downgrades Outperform → Market Perform 11/16/2023 7.95% Telsey Advisory Group $145 → $160 Maintains Outperform 11/15/2023 18.74% Goldman […]

Target’s (TGT) top-line trends likely continued to be pressured in fiscal Q4, though the retailer has a “compelling” setup into 2024, UBS Securities said in a note Monday. The brokerage projects Target’s fiscal Q4 earnings at $2.42 per diluted share on revenue of $31.61 billion. The market consensus is for $2.40 and $31.81 billion, respectively, according to UBS. The firm sees the retailer’s fiscal Q4 comparable sales falling 5.5%, compared with the market consensus for a 4.5% drop. “Our baseline thesis on Target is that it will get back to growing both its sales and profits this year, which will propel its stock higher,” UBS analysts Michael Lasser, Zeyn Burak and Mark Carden said in the note. “Its upcoming print should provide evidence that it has the tools to make this happen in the coming quarter.” UBS has a buy rating on the Target stock, with a $174 price target.

Target (NYSE: TGT)  may be on track for a sales rebound in 2024, with several tailwinds returning for the company, according to UBS analysts. They say in a research note that moderating inflation on consumables will give shoppers more cash to spend on discretionary goods, which will benefit Target. The company will also be lapping easier comparisons in 2024, as 2023 saw less promotional activity than 2022 and the company’s sales took a hit in May and June from backlash to its Pride Month collection. Cost cuts and smaller losses from shrink will likely boost profit as well. The analysts back their buy rating and price target of $174. Shares rise 2% to $149.48.

Target  (NYSE: TGT) will likely get back to growing both its sales and profits this year as the company prepares to grow alternative profit segments, UBS analysts say in a research note. The company should benefit from sequentially improved year-over-year growth rates in discretionary categories during November and December, even if the retail giant will likely forecast flattish sales. Furthermore, a potential launch of a membership program would help the company turn around the debate around losing market share, and its roundel advertising business should allow it boost its results, analysts say.

Target (NYSE:TGT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 4.62% Stifel $141 → $153 Maintains Hold 02/07/2024 16.25% Gordon Haskett → $170 Upgrades Hold → Buy 02/01/2024 — Goldman Sachs Maintains Buy 01/16/2024 12.83% Morgan Stanley $140 → $165 Upgrades Equal-Weight → Overweight 01/04/2024 5.99% Wells Fargo $148 → $155 Maintains Overweight 11/16/2023 -4.27% Roth MKM → $140 Reiterates Neutral → Neutral 11/16/2023 -2.9% Citigroup $117 → $142 Maintains Neutral 11/16/2023 -3.58% Stifel $130 → $141 Maintains Hold 11/16/2023 -11.11% BMO Capital $120 → $130 Maintains Market Perform 11/16/2023 7.36% RBC Capital $161 → $157 Maintains Outperform 11/16/2023 -14.52% JP Morgan $113 → $125 Maintains Neutral 11/16/2023 1.2% TD Cowen $161 → $148 Downgrades Outperform → Market Perform 11/16/2023 9.41% Telsey Advisory Group $145 → $160 Maintains Outperform 11/15/2023 20.35% Goldman Sachs → $176 Maintains Buy 11/15/2023 9.41% Guggenheim $160

By Teresa Rivas After a difficult 2023, Target stock rose 1.4% on Thursday as investors welcomed a vote of confidence from Goldman Sachs. If the bank’s estimates are right, the shares could jump another 25%. Analyst Kate McShane added Target to Goldman Sachs’ Conviction List, with a Buy rating and a $176 target for the share price. Even with the stock’s morning pop, to $141, that level — considerably higher than the average analyst price target of $153 — implies Target can increase its value by about a quarter over the next 12 months. That would be a welcome change from 2023, when the stock lost more than 6% as the S&P 500 soared 24%. Once a pandemic darling, Target has been hit with various obstacles that have hurt the shares. Inflation crimped consumers’ budgets for the discretionary items that make up the bulk of Target’s business, it has been

Target (NYSE:TGT) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/01/2024 — Goldman Sachs Maintains Buy 01/16/2024 13.87% Morgan Stanley $140 → $165 Upgrades Equal-Weight → Overweight 01/04/2024 6.97% Wells Fargo $148 → $155 Maintains Overweight 11/16/2023 -3.38% Roth MKM → $140 Reiterates Neutral → Neutral 11/16/2023 -2% Citigroup $117 → $142 Maintains Neutral 11/16/2023 -2.69% Stifel $130 → $141 Maintains Hold 11/16/2023 -10.28% BMO Capital $120 → $130 Maintains Market Perform 11/16/2023 8.35% RBC Capital $161 → $157 Maintains Outperform 11/16/2023 -13.73% JP Morgan $113 → $125 Maintains Neutral 11/16/2023 2.14% TD Cowen $161 → $148 Downgrades Outperform → Market Perform 11/16/2023 10.42% Telsey Advisory Group $145 → $160 Maintains Outperform 11/15/2023 21.46% Goldman Sachs → $176 Maintains Buy 11/15/2023 10.42% Guggenheim $160 → $160 Maintains Buy 11/15/2023 15.25% DA Davidson $177 → $167 Maintains Buy 11/15/2023 -2% Deutsche Bank $123

Target Announces Michael Fiddelke as Chief Operating Officer PR Newswire MINNEAPOLIS, Jan. 18, 2024 Retailer also shares retirement plans for Don Liu and updates to merchandising leadership MINNEAPOLIS, Jan. 18, 2024 /PRNewswire/ — Target Corporation (NYSE: TGT) today announced that Michael Fiddelke, who has served as the retailer’s chief financial officer since Nov. 1, 2019, has been named chief operating officer, effective Feb. 4, 2024. Until his replacement is named, Fiddelke will continue to serve as chief financial officer for the company. As chief operating officer, Fiddelke will oversee the retailer’s nearly 2,000 stores, its global supply chain network, fulfillment services including same-day delivery with Shipt, network capacity planning, enterprise operations, the teams responsible for building and remodeling Target stores and other facilities, and flight services. “With his 20 years with the company, spanning roles across our business and most recently as our chief financial officer, Michael brings a diverse

Target’s top line is looking a lot less risky this year. Morgan Stanley analyst Simeon Gutman says in a research note that the company is recovering from its idiosyncratic challenges, with overall discretionary spending set to rebound this year. Both of those factors likely point to accelerating sales momentum. He also sees potential for a margins beat, including from improving shrink. Target stock tends to re-rate with a higher multiple when macro or business-specific trends improve, and he sees that happening this year. Gutman upgrades shares to overweight from equal-weight and raises his price target to $165 a share from $140.

Target (NYSE:TGT) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 16.12% Morgan Stanley $140 → $165 Upgrades Equal-Weight → Overweight 01/04/2024 9.08% Wells Fargo $148 → $155 Maintains Overweight 11/16/2023 -1.48% Roth MKM → $140 Reiterates Neutral → Neutral 11/16/2023 -0.07% Citigroup $117 → $142 Maintains Neutral 11/16/2023 -0.77% Stifel $130 → $141 Maintains Hold 11/16/2023 -8.52% BMO Capital $120 → $130 Maintains Market Perform 11/16/2023 10.49% RBC Capital $161 → $157 Maintains Outperform 11/16/2023 -12.03% JP Morgan $113 → $125 Maintains Neutral 11/16/2023 4.15% TD Cowen $161 → $148 Downgrades Outperform → Market Perform 11/16/2023 12.6% Telsey Advisory Group $145 → $160 Maintains Outperform 11/15/2023 23.86% Goldman Sachs → $176 Maintains Buy 11/15/2023 12.6% Guggenheim $160 → $160 Maintains Buy 11/15/2023 17.52% DA Davidson $177 → $167 Maintains Buy 11/15/2023 -0.07% Deutsche Bank $123 → $142 Maintains Hold 11/15/2023 —

Morgan Stanley analyst Simeon Gutman upgrades Target (NYSE:TGT) from Equal-Weight to Overweight and raises the price target from $140 to $165.

Target (TGT) is facing delays in receiving shipments from major apparel suppliers India and Pakistan amid the crisis in the Red Sea, Reuters reported Friday, citing a source familiar with the matter. The US retailer is working with its shippers to reroute shipments, according to the report. The extra shipment time and costs due to the rerouting are expected to be minimal, and the company is not thinking about using air freight at the moment, the report said. Target did not immediately reply to MT Newswires’ request for comment.