Target (NYSE:TGT) Price Target Raised to $90.00 at Truist Financial

Target (NYSE:TGT) had its target price lifted by equities research analysts at Truist Financial from $83.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the retailer’s stock. Truist Financial’s price target would indicate a potential upside of 6.03% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wolfe Research initiated coverage on Target in a research note on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target for the company. DA Davidson reiterated a “buy” rating and set a $108.00 target price on shares of Target in a research report on Thursday. Roth Capital set a $88.00 target price on shares of Target in a research note on Thursday. BTIG Research started coverage on shares of Target in a research report on Tuesday, October 14th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $103.34.

Target Stock Performance

NYSE TGT traded down $1.20 during trading hours on Thursday, reaching $84.88. 4,183,101 shares of the company were exchanged, compared to its average volume of 7,332,507. The stock has a market capitalization of $38.57 billion, a P/E ratio of 9.91, a P/E/G ratio of 2.74 and a beta of 1.19. 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 has a 1 year low of $85.21 and a 1 year high of $145.08. The business’s 50 day simple moving average is $90.34 and its 200-day simple moving average is $96.02.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Target had a net margin of 3.72% and a return on equity of 23.43%. The firm had revenue of $25.28 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same period in the prior year, the firm earned $1.85 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities research analysts expect that Target will post 8.69 earnings per share for the current year.

Hedge Funds Weigh In On Target

Several hedge funds have recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Target during the 2nd quarter valued at about $595,839,000. Norges Bank bought a new position in Target during the 2nd quarter valued at approximately $578,009,000. Finally, Pacer Advisors Inc. lifted its holdings in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after buying an additional 3,065,035 shares during the period. Hedge funds and other 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.