Wells Fargo & Company Lowers Target (NYSE:TGT) Price Target to $135.00

Target (NYSE:TGT) had its price objective lowered by equities researchers at Wells Fargo & Company from $150.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the retailer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 18.65% from the stock’s current price.

A number of other brokerages have also weighed in on TGT. The Goldman Sachs Group decreased their price target on shares of Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a report on Wednesday, November 20th. Jefferies Financial Group dropped their price target on shares of Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday. BMO Capital Markets decreased their price objective on shares of Target from $160.00 to $120.00 and set a “market perform” rating for the company in a research report on Thursday, November 21st. Finally, Daiwa America downgraded Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus target price of $147.00.

Target Price Performance

Shares of NYSE:TGT opened at $113.78 on Wednesday. The company has a market cap of $52.13 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.94 and a beta of 1.18. The business has a fifty day simple moving average of $132.46 and a 200-day simple moving average of $141.72. Target has a 52 week low of $112.53 and a 52 week high of $181.86. 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 posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Equities research analysts forecast that Target will post 8.69 EPS for the current year.

Institutional Investors Weigh In On Target

Large investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Target in the 3rd quarter worth about $28,000. Bernard Wealth Management Corp. bought a new position in Target in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Target in the fourth quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new stake in shares of Target during the third quarter valued at approximately $36,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Target during the third quarter valued at approximately $38,000. 79.73% of the stock is owned by institutional investors and hedge funds.

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.