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

Target (NYSE:TGT - Get Free Report) had its target price increased by analysts at JPMorgan Chase & Co. from $105.00 to $109.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the retailer's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.13% from the company's current price.

TGT has been the subject of a number of other reports. Evercore ISI cut their price target on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Stifel Nicolaus dropped their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research report on Thursday, March 20th. Citigroup reiterated a "neutral" rating and set a $97.00 price objective (up from $95.00) on shares of Target in a research report on Wednesday, May 14th. Roth Capital set a $122.00 target price on Target in a report on Wednesday, March 5th. Finally, Cfra Research downgraded Target from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $122.10.

Target Stock Performance

TGT traded up $2.49 during trading on Thursday, reaching $95.50. 2,520,897 shares of the company were exchanged, compared to its average volume of 6,011,676. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock has a market cap of $43.39 billion, a P/E ratio of 10.13, a PEG ratio of 1.94 and a beta of 1.27. Target has a 52 week low of $87.35 and a 52 week high of $167.40. The firm has a 50 day moving average of $97.70 and a 200 day moving average of $120.93.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Target will post 8.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Target

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new stake in shares of Target during the 4th quarter worth approximately $29,000. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter worth $29,000. WPG Advisers LLC bought a new stake in Target in the 1st quarter valued at $32,000. Raleigh Capital Management Inc. raised its stake in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after buying an additional 135 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in shares of Target by 175.3% during the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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