Target (NYSE:TGT) Price Target Lowered to $103.00 at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Target from $105.00 to $103.00, while maintaining an "in-line" rating, indicating a potential upside of 14.65% from the current price.
• Recent ratings from other analysts include a "neutral" rating from Piper Sandler and an "underperform" rating from Bank of America, which also cut its price target to $93.00.
• Target reported earnings of $2.05 per share for the latest quarter, slightly beating expectations, but revenue fell 0.9% year-over-year, evidencing ongoing challenges in the retail sector.

Target (NYSE:TGT - Get Free Report) had its target price lowered by stock analysts at Evercore ISI from $105.00 to $103.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the retailer's stock. Evercore ISI's price target indicates a potential upside of 14.65% from the stock's current price.

Other analysts also recently issued reports about the company. Piper Sandler reiterated a "neutral" rating on shares of Target in a report on Tuesday, July 29th. Bank of America reiterated an "underperform" rating and issued a $93.00 price target (down from $105.00) on shares of Target in a report on Friday, August 15th. UBS Group lowered their price target on Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Barclays reiterated an "underweight" rating and issued a $91.00 price target on shares of Target in a report on Monday, July 21st. Finally, Royal Bank Of Canada increased their price target on Target from $104.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Nine investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus target price of $109.65.

Target Trading Up 1.0%

Shares of NYSE TGT traded up $0.88 during trading on Tuesday, hitting $89.84. 4,460,222 shares of the company traded hands, compared to its average volume of 7,345,906. Target has a 1 year low of $86.30 and a 1 year high of $161.50. The company has a 50-day moving average price of $95.54 and a 200-day moving average price of $97.32. The firm has a market capitalization of $40.82 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.58 and a beta of 1.18. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the previous year, the company earned $2.57 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, equities analysts predict that Target will post 8.69 EPS for the current year.

Hedge Funds Weigh In On Target

Several large investors have recently modified their holdings of TGT. Brighton Jones LLC raised 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 during the period. Park Avenue Securities LLC raised its position in shares of Target by 21.3% during the 1st quarter. Park Avenue Securities LLC now owns 16,201 shares of the retailer's stock worth $1,691,000 after purchasing an additional 2,850 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Target during the 1st quarter worth approximately $4,154,000. Courier Capital LLC raised its position in shares of Target by 62.4% during the 1st quarter. Courier Capital LLC now owns 9,874 shares of the retailer's stock worth $1,030,000 after purchasing an additional 3,794 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Target by 34.8% during the 1st quarter. Farther Finance Advisors LLC now owns 12,389 shares of the retailer's stock worth $1,294,000 after purchasing an additional 3,195 shares during the period. Institutional investors own 79.73% of the company's stock.

Target Company Profile

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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