Target (NYSE:TGT) Price Target Cut to $105.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has reduced Target's price target from $106.00 to $105.00, maintaining an "in-line" rating, indicating a potential upside of 20.02% from its previous close.
• Target's current stock price has dropped to $87.49, significantly lower than its one-year high of $161.50.
• The company reported earnings of $2.05 per share for the last quarter, surpassing analyst estimates, but experienced a 0.9% year-over-year decline in revenue.

Target (NYSE:TGT - Get Free Report) had its price objective decreased by equities researchers at Evercore ISI from $106.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the retailer's stock. Evercore ISI's price target points to a potential upside of 20.02% from the company's previous close.

TGT has been the subject of several other research reports. Wedbush restated an "outperform" rating on shares of Target in a report on Thursday, July 17th. Piper Sandler reissued a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. UBS Group cut their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their target price on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Wolfe Research started coverage on shares of Target in a research report on Thursday, September 18th. They set an "underperform" rating and a $80.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Target currently has an average rating of "Hold" and an average price target of $110.48.

Target Price Performance

Shares of NYSE:TGT traded up $0.93 during midday trading on Tuesday, reaching $87.49. 1,703,245 shares of the company were exchanged, compared to its average volume of 7,220,076. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99. The business's fifty day moving average is $98.73 and its two-hundred day moving average is $98.59. Target has a one year low of $86.30 and a one year high of $161.50. The stock has a market cap of $39.75 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16.

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

Institutional Trading of Target

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares in the last quarter. Vident Advisory LLC grew its holdings in Target by 17.7% in the 4th quarter. Vident Advisory LLC now owns 3,002 shares of the retailer's stock valued at $406,000 after buying an additional 452 shares during the period. Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter valued at about $40,000. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter valued at about $29,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Target in the 4th quarter valued at about $51,270,000. Institutional investors and hedge funds own 79.73% of the company's stock.

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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