Target (NYSE:TGT) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial began coverage on shares of Target (NYSE:TGT) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $270.00 price target on the retailer’s stock. Truist Financial’s target price would suggest a potential upside of 21.95% from the company’s current price.

TGT has been the topic of several other reports. Credit Suisse Group started coverage on Target in a research report on Friday, November 19th. They set an “outperform” rating and a $286.00 price target on the stock. Zacks Investment Research lowered Target from a “buy” rating to a “hold” rating and set a $276.00 price target on the stock. in a research report on Tuesday, October 26th. The Goldman Sachs Group upped their price target on Target from $281.00 to $308.00 and gave the company a “buy” rating in a research report on Tuesday, October 19th. UBS Group downgraded Target from a “buy” rating to a “sell” rating in a research note on Thursday, January 6th. Finally, Bank of America upped their price objective on Target from $317.00 to $329.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $260.29.

Shares of TGT opened at $221.40 on Thursday. The business’s 50 day moving average is $238.23 and its two-hundred day moving average is $245.31. Target has a 52-week low of $166.82 and a 52-week high of $268.98. The firm has a market cap of $106.08 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.84.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 17th. The retailer reported $3.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.20. Target had a return on equity of 44.81% and a net margin of 6.56%. The company had revenue of $25.29 billion for the quarter, compared to analyst estimates of $24.60 billion. During the same period in the prior year, the company posted $2.79 EPS. Target’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts expect that Target will post 13.19 earnings per share for the current fiscal year.

In other news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction on Thursday, December 2nd. The stock was sold at an average price of $244.72, for a total value of $7,341,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John J. Mulligan sold 28,918 shares of the stock in a transaction on Friday, December 17th. The shares were sold at an average price of $223.60, for a total value of $6,466,064.80. The disclosure for this sale can be found here. Insiders have sold 66,277 shares of company stock worth $15,643,765 in the last three months. 0.29% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of TGT. BlackRock Inc. lifted its position in Target by 1.6% in the 3rd quarter. BlackRock Inc. now owns 41,153,523 shares of the retailer’s stock valued at $9,414,691,000 after acquiring an additional 637,721 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Target by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,029,998 shares of the retailer’s stock worth $1,832,484,000 after buying an additional 203,703 shares in the last quarter. Capital World Investors lifted its position in shares of Target by 7.2% during the 3rd quarter. Capital World Investors now owns 7,275,047 shares of the retailer’s stock worth $1,664,313,000 after buying an additional 485,927 shares in the last quarter. GQG Partners LLC lifted its position in shares of Target by 48.1% during the 2nd quarter. GQG Partners LLC now owns 5,919,055 shares of the retailer’s stock worth $1,430,396,000 after buying an additional 1,923,419 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Target by 3.8% during the 2nd quarter. Jennison Associates LLC now owns 4,687,215 shares of the retailer’s stock worth $1,133,087,000 after buying an additional 172,890 shares in the last quarter. Institutional investors own 78.34% of the company’s stock.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Analyst Recommendations for Target (NYSE:TGT)

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