Target (TGT) Price Target Raised to $65.00

Target (NYSE:TGT) had its price target hoisted by equities research analysts at Telsey Advisory Group from $58.00 to $65.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the retailer’s stock. Telsey Advisory Group’s price objective indicates a potential downside of 3.89% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Moffett Nathanson started coverage on shares of Target in a research report on Monday, December 4th. They issued a “neutral” rating for the company. BMO Capital Markets reiterated a “market weight” rating on shares of Target in a research report on Thursday, September 14th. Wells Fargo & Co started coverage on shares of Target in a research report on Friday, November 3rd. They issued a “market perform” rating and a $62.00 price objective for the company. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Morgan Stanley decreased their price objective on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $62.07.

Target (NYSE TGT) opened at $67.63 on Wednesday. The stock has a market cap of $35,468.12, a price-to-earnings ratio of 14.15, a P/E/G ratio of 8.07 and a beta of 0.63. Target has a 1 year low of $48.56 and a 1 year high of $74.24. The company has a current ratio of 0.96, a quick ratio of 0.27 and a debt-to-equity ratio of 1.01.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $16.67 billion during the quarter, compared to the consensus estimate of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. equities analysts anticipate that Target will post 4.54 EPS for the current fiscal year.

In related news, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its stake in Target by 49.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 134,139 shares of the retailer’s stock valued at $7,134,000 after acquiring an additional 44,439 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in Target during the 2nd quarter valued at about $267,000. Sigma Planning Corp grew its stake in Target by 36.1% during the 2nd quarter. Sigma Planning Corp now owns 24,588 shares of the retailer’s stock valued at $1,286,000 after acquiring an additional 6,528 shares in the last quarter. IFC Holdings Incorporated FL purchased a new stake in Target during the 2nd quarter valued at about $213,000. Finally, Berkeley Capital Partners LLC grew its stake in Target by 82.5% during the 2nd quarter. Berkeley Capital Partners LLC now owns 9,311 shares of the retailer’s stock valued at $487,000 after acquiring an additional 4,210 shares in the last quarter. Hedge funds and other institutional investors own 87.41% of the company’s stock.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Analyst Recommendations for Target (NYSE:TGT)

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