Target (NYSE: TGT) was the recipient of a ratings changes during the seven days:
- 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.”
- Target had its price target raised by analysts at MKM Partners from $73.00 to $78.00. They now have a “buy” rating on the stock.
- Target had its price target raised by analysts at Citigroup from $72.00 to $77.00. They now have a “buy” rating on the stock.
- Target had its price target lowered by analysts at Jefferies & Co. from $59.00 to $58.00. They now have a “hold” rating on the stock.
- Target had its “overweight” rating reaffirmed by analysts at JPMorgan Chase. They now have a $74.00 price target on the stock.
- Target had its “buy” rating reaffirmed by analysts at Janney Montgomery Scott. They now have a $72.00 price target on the stock.
- Target was upgraded by analysts at Wells Fargo from a “market perform” rating to an “outperform” rating. They now have a $73.00 price target on the stock, down previously from $78.00.
- Target had its price target raised by analysts at Deutsche Bank from $66.00 to $74.00. They now have a “buy” rating on the stock. They wrote, “While 4Q results were slightly messy and FY13 EPS guidance was equally difficult to understand, one thing that’s clear to us is that TGT remains well on track to achieve its LT goal for $8.00 in EPS by 2017 or before. Along these lines, we’re modeling $5.50 and $0.20 in U.S. and Canada EPS in FY14, resp., with share repurchases and debt repayment acting as the catalysts (post sale of CC receivables) to potentially nudge earnings closer to $6 next year. In our view, the stock is meaningfully undervalued, as investors should look past the current investment phase in Canada and focus on strong underlying earnings growth. We are raising our PT to $74 on 13x FY14′s $5.70 in EPS. Buy.”
- Target had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $71.00 price target on the stock.
Target opened at 66.44 on Wednesday. Target has a 1-year low of $54.68 and a 1-year high of $66.92. The stock’s 50-day moving average is currently $62.40. The company has a market cap of $42.874 billion and a price-to-earnings ratio of 14.70.
Target Corporation (Target) operates in three segments: U.S. Retail, U.S. Credit Card and Canadian. As a component of the U.
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