Guggenheim Forecasts Strong Price Appreciation for Target (NYSE:TGT) Stock

Target (NYSE:TGT) had its price objective boosted by equities research analysts at Guggenheim from $145.00 to $155.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the retailer’s stock. Guggenheim’s target price would suggest a potential upside of 12.94% from the stock’s current price.

TGT has been the topic of several other research reports. BMO Capital Markets dropped their price objective on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research note on Thursday, November 21st. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $130.00 in a report on Tuesday, November 26th. Truist Financial upped their target price on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, January 17th. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, TD Cowen lowered their target price on Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.57.

Target Stock Up 1.1 %

Shares of NYSE:TGT opened at $137.24 on Wednesday. Target has a 52-week low of $120.21 and a 52-week high of $181.86. The stock has a market cap of $62.89 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16. The business’s 50 day moving average is $134.98 and its 200 day moving average is $144.94. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period last year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts predict that Target will post 8.68 EPS for the current year.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Target by 8.3% during the 3rd quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. FMR LLC lifted its stake in Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock valued at $1,555,542,000 after buying an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC lifted its stake in Target by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock valued at $1,461,456,000 after buying an additional 130,691 shares in the last quarter. Legal & General Group Plc lifted its stake in Target by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after buying an additional 279,656 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Target by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock valued at $517,620,000 after buying an additional 62,916 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

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.