On Nov 22, major Wall Street analysts update their ratings for $Target (TGT.US)$, with price targets ranging from $130 to $165.
Jefferies analyst Corey Tarlowe maintains with a buy rating, and maintains the target price at $165.
Evercore analyst Greg Melich maintains with a hold rating, and adjusts the target price from $165 to $130.
TD Cowen analyst Oliver Chen maintains with a hold rating, and adjusts the target price from $180 to $145.
Stifel analyst Mark Astrachan maintains with a hold rating, and adjusts the target price from $165 to $137.
D.A. Davidson analyst Michael Baker maintains with a buy rating, and sets the target price at $150.
Furthermore, according to the comprehensive report, the opinions of $Target (TGT.US)$'s main analysts recently are as follows:
Following the company's weaker than expected Q3 earnings and subdued future guidance, forecasts for FY25 earnings per share have been reduced. This adjustment stems from the Q3 performance and anticipations of persistent challenges in the fourth quarter. It is noted that the continued slowdown in discretionary spending and specific calendar effects are expected to persist, impacting the forecasts for the upcoming quarter. Additionally, the pressures from cost headwinds experienced in Q3 are also expected to affect future quarters.
Target's third-quarter outcomes underperformed expectations regarding margins due to accumulated inventories from early receipts, alongside intensified discounting efforts. This situation was exacerbated by a significant amount of sales occurring during promotional periods and the impact of warm weather on apparel sales. It is suggested that these represent mostly cyclical challenges, putting pressure on the company to demonstrate operational resilience.
Target's Q3 report highlighted major concerns including weaker sales, diminished gross margins, and escalated SG&A costs, which significantly impacted stock performance today. Despite these issues seeming like a case of 'wrong place, wrong time', they also amplify discussions regarding market share and the trajectory towards improved revenue outcomes. The situation underscores a critical juncture in the company's narrative, where a rebound in sales is necessary, although it was not observed in Q3, it might be anticipated in Q4.
Target needs to address negative trends in home, apparel, hardlines segments, and improve digital channel profitability, as well as consistency outside of seasonal and promotional periods.
Target's Q3 outcomes fell below the reduced expectations, impacted by a cautious consumer stance and a negative outlook on margins heading into Q4, coupled with necessary investments to stabilize traffic amidst intensified competition from major players. Recent surveys have demonstrated a noticeable divide between those gaining market share and those struggling, with strong renewal intentions observed for some, while others work to ensure they are not sidelined by their dominant competitors.
Here are the latest investment ratings and price targets for $Target (TGT.US)$ from 6 analysts:
Note:
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