#2 - Target (NYSE:TGT)
The dip in Target (NYSE: TGT) stock the morning after its earnings report seems to be a bit of bad luck. Investors may be in a selling mood, but Target’s data shouldn’t be a reason for pessimism. The company delivered a split decision with a slight miss on top-line revenue but recording a beat on the bottom line. However, since the earnings report, two analysts have already raised their price target for TGT stock over 10% higher than the current consensus estimate of around $250.
Target was bucking the trend of brick-and-mortar retail prior to the pandemic. The company invested heavily in its digital capabilities and that allowed it to weather the physical store closures better than most retailers. Digital comparable sales rose 10%. However, as could be expected, that number was down sharply from the 195% a year earlier and the 50% increase in the prior quarter. The comparisons are going to remain challenging for the next couple of quarters.
That being said, total comparable sales rose 8.9% which was above estimates and boosted by a 13% rise in in-store traffic.
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.
More- Current Price
- $135.57
- Consensus Rating
- Hold
- Ratings Breakdown
- 15 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $157.70 (16.3% Upside)
