JPMorgan Chase & Co. Issues Positive Forecast for Target (NYSE:TGT) Stock Price

Key Points

• JPMorgan raised its Target price objective from $157 to $163 but maintained a neutral rating; the new target implies 2.05% downside from the stock’s then-current price.
• Analyst sentiment overall was neutral: MarketBeat reported a consensus “Hold” rating and an average price target of $161.70.
• Target shares rose 5% to $166.41 on Monday. In its latest reported quarter, the retailer beat earnings estimates, posting $4.11 per share, and revenue grew 5.3% year over year.

Target (NYSE:TGT - Get Free Report) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $157.00 to $163.00 in a report released on Monday, Benzinga reports. The firm currently has a "neutral" rating on the retailer's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 2.05% from the stock's current price.

Several other research analysts have also weighed in on TGT. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Target and gave the stock a "hold" rating in a research note on Thursday, August 20th. TD Cowen began coverage on shares of Target in a research note on Friday, October 30th. They issued a "hold" rating and a $160.00 target price for the company. Royal Bank Of Canada lifted their price target on Target from $166.00 to $178.00 and gave the stock an "outperform" rating in a report on Thursday, August 20th. Wells Fargo & Company boosted their price target on Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Finally, DA Davidson upped their price objective on Target from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $161.70.

Target Stock Up 5.0%

Shares of NYSE:TGT traded up $8.00 during trading on Monday, hitting $166.41. 2,971,862 shares of the company were exchanged, compared to its average volume of 5,038,451. The stock has a market cap of $75.60 billion, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.93 and a beta of 0.94. Target has a fifty-two week low of $83.44 and a fifty-two week high of $170.75. The firm has a fifty day moving average price of $156.41 and a two-hundred day moving average price of $135.02. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The company had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts anticipate that Target will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Target

In other news, CAO Matthew Liegel sold 926 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Melissa Kremer sold 15,500 shares of Target stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares of the company's stock, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Target

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Target in the second quarter valued at approximately $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in Target in the 2nd quarter worth approximately $831,466,000. Dimensional Fund Advisors LP lifted its stake in Target by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock worth $656,091,000 after purchasing an additional 411,608 shares in the last quarter. Bank of America Corp DE boosted its holdings in Target by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock valued at $597,656,000 after purchasing an additional 82,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Target by 12.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock valued at $589,642,000 after purchasing an additional 514,155 shares during the period. Institutional investors own 79.73% of the company's stock.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands.

The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States.

The company traces its history to the Dayton Dry Goods Company, founded in Minneapolis in 1902.

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