Target (NYSE:TGT) Price Target Raised to $103.00 at UBS Group

Target (NYSE:TGT) had its price target boosted by stock analysts at UBS Group from $86.00 to $103.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the retailer’s stock. UBS Group’s price objective suggests a potential downside of 0.40% from the company’s current price.

TGT has been the topic of several other reports. Deutsche Bank upgraded Target from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $99.00 in a research note on Monday, August 5th. Goldman Sachs Group assumed coverage on Target in a research note on Thursday, July 11th. They issued a “buy” rating and a $102.00 target price on the stock. JPMorgan Chase & Co. set a $100.00 target price on Target and gave the company a “buy” rating in a research note on Wednesday. Buckingham Research reiterated a “buy” rating and issued a $117.00 target price (up from $102.00) on shares of Target in a research note on Thursday. Finally, Credit Suisse Group set a $90.00 target price on Target and gave the company a “buy” rating in a research note on Thursday, May 23rd. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Target currently has a consensus rating of “Buy” and a consensus price target of $98.11.

NYSE:TGT traded up $0.41 during mid-day trading on Thursday, reaching $103.41. 5,070,738 shares of the stock were exchanged, compared to its average volume of 5,221,293. The company has a 50 day simple moving average of $86.19 and a 200-day simple moving average of $80.56. The stock has a market capitalization of $44.36 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.07 and a beta of 0.61. The company has a quick ratio of 0.19, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. Target has a 1 year low of $60.15 and a 1 year high of $103.38.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $18.42 billion for the quarter, compared to the consensus estimate of $18.32 billion. Target had a return on equity of 26.48% and a net margin of 3.96%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 EPS. As a group, research analysts predict that Target will post 5.92 EPS for the current year.

In other news, insider Michael Edward Mcnamara sold 11,891 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $88.79, for a total value of $1,055,801.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie A. Lundquist sold 8,367 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $88.01, for a total value of $736,379.67. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,421 shares of company stock valued at $2,162,689. Insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGT. Krane Funds Advisors LLC purchased a new stake in Target during the second quarter valued at about $25,000. Larson Financial Group LLC purchased a new stake in Target during the second quarter valued at about $31,000. Phocas Financial Corp. purchased a new stake in Target during the second quarter valued at about $329,000. Icon Wealth Partners LLC purchased a new stake in Target during the first quarter valued at about $31,000. Finally, Advisory Alpha LLC purchased a new stake in Target during the first quarter valued at about $30,000. 82.12% of the stock is owned by institutional investors.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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