Several investment firms have updated their stock ratings and price targets on shares of Target (NYSE: TGT) in the last week:
- Target had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $70.00 price target on the stock.
- Target had its price target raised by analysts at S&P Equity Research from $70.00 to $77.00.
- Target was upgraded by analysts at S&P Equity Research from a “buy” rating to a “strong-buy” rating.
- Target had its price target raised by analysts at Piper Jaffray to $74.00. They wrote, “We expect Target to report GAAP earnings around $1.48, consistent with consensus, and expect comp guidance for FQ1 in the Flat to +LSD range. While 2013 will be a messy year in terms of estimates, we believe the potential for meaningful earnings acceleration in 2014 justifies the risk reward at these levels. We believe the range of potential EPS outcomes for CY14 are between $5.50 to $6.00 and given the trough P/E forward multiple is 11.2x, we think downside is limited.”
- Target is now covered by analysts at Cowen. They set a “neutral” rating on the stock.
- Target had its “buy” rating reaffirmed by analysts at TheStreet. They wrote, “Target (TGT) has been reiterated by TheStreet Ratings as a buy with a ratings score of A- . The company’s strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Shares of Target opened at 64.05 on Wednesday. Target has a 52 week low of $54.68 and a 52 week high of $65.80. The stock’s 50-day moving average is currently $61.7. The company has a market cap of $41.683 billion and a P/E ratio of 13.94.
Target Corporation (Target) operates in three segments: U.S. Retail, U.S. Credit Card and Canadian. As a component of the U.