Target (NYSE:TGT) Price Target Cut to $100.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has reduced Target's price target from $103.00 to $100.00, maintaining an "in-line" rating, suggesting a potential upside of 13.69% from the previous close.
• Multiple analysts have adjusted their ratings on Target, with Jefferies Financial Group setting a target of $115.00 while Bank of America has lowered theirs to $93.00.
• Target reported quarterly earnings of $2.05 per share, slightly exceeding expectations, but showed a 0.9% decline in revenue year-over-year.

Target (NYSE:TGT - Get Free Report) had its price target dropped by equities researchers at Evercore ISI from $103.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the retailer's stock. Evercore ISI's price objective would suggest a potential upside of 13.69% from the company's previous close.

Several other equities analysts also recently commented on TGT. Jefferies Financial Group dropped their price objective on Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Piper Sandler reiterated a "neutral" rating on shares of Target in a research note on Tuesday, July 29th. DA Davidson lowered their target price on shares of Target from $115.00 to $108.00 and set a "buy" rating on the stock in a report on Monday. Bank of America reissued an "underperform" rating and set a $93.00 target price (down previously from $105.00) on shares of Target in a report on Friday, August 15th. Finally, Wolfe Research began coverage on shares of Target in a report on Thursday, September 18th. They set an "underperform" rating and a $80.00 target price on the stock. Nine analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $109.00.

Target Stock Performance

NYSE:TGT traded up $0.62 on Tuesday, hitting $87.96. The company's stock had a trading volume of 841,262 shares, compared to its average volume of 7,369,462. The firm has a market capitalization of $39.97 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. Target has a one year low of $85.36 and a one year high of $161.50. The stock has a fifty day moving average of $94.23 and a two-hundred day moving average of $96.71.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same quarter in the prior year, the business posted $2.57 earnings per share. Target's revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

Several hedge funds and other institutional investors have recently modified their holdings of the business. WFA of San Diego LLC purchased a new position in Target during the second quarter worth about $25,000. Kozak & Associates Inc. lifted its position in shares of Target by 2,530.0% during the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer's stock worth $27,000 after buying an additional 253 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer's stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Target in the 2nd quarter valued at $29,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in Target during the 3rd quarter worth $27,000. 79.73% of the stock is owned by hedge funds and other 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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