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

Target (NYSE:TGT) had its price objective raised by equities research analysts at Truist Financial from $129.00 to $134.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the retailer’s stock. Truist Financial’s target price indicates a potential upside of 0.29% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein started coverage on Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 target price on the stock. HSBC cut shares of Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Evercore ISI lowered their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a research report on Thursday, November 21st. Finally, Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Target has an average rating of “Hold” and an average target price of $158.23.

Target Trading Up 0.3 %

Shares of NYSE TGT opened at $133.62 on Friday. The firm has a market cap of $61.22 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. 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 has a twelve month low of $120.21 and a twelve month high of $181.86. The business has a fifty day simple moving average of $136.13 and a two-hundred day simple moving average of $145.14.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. Target’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $2.10 earnings per share. Analysts expect that Target will post 8.6 earnings per share for the current fiscal year.

Institutional Trading of Target

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

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.