The revisions to date are positive; MarketBeat.com tracks twenty-seven revisions, including three upgrades since March, and they are leading the market to new highs. The $180 consensus target implies a 12% upside from $160, with most fresh targets above it. The freshest targets have this stock trading near $190 to $200 and a multi-year high. A move to that level would confirm a complete reversal in this market and open the door to a sustained rally.
The analysts are not expecting much from Target, so revenue outperformance should be expected relative to the consensus of $24.5 billion or down 3% YOY. Seventeen of twenty-three revenue/earnings estimates were lowered since the last report, setting the bar low. The critical details will be the margin and the growth outlook, which is expected to return by year’s end.
Texas Roadhouse’s Q1 results were mixed relative to the analysts’ consensus forecasts but solid enough to issue thirteen revisions, twenty-eight since the Q4 release, lifting the consensus price target by 15% in a few days. The consensus target assumes a 7% decline but is led higher; the freshest targets have this stock trading at $170 to $180, flat to up 6% from current levels. Because the discretionary company delivers solid cash flow, pays a healthy dividend, and is expected to accelerate growth this year, investors may expect the revision trend to continue. Regardless, the technical action suggests this rally still has legs and may rise another 10% to 15% before topping out.
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Get This Free ReportCompany | MarketRank™ | Current Price | Price Change | Dividend Yield | P/E Ratio | Consensus Rating | Consensus Price Target |
---|---|---|---|---|---|---|---|
Target (TGT) | 4.9291 of 5 stars | $151.16 | +0.7% | 2.96% | 15.62 | Moderate Buy | $179.47 |
Domino's Pizza (DPZ) | 4.9058 of 5 stars | $413.81 | -0.3% | 1.46% | 25.43 | Moderate Buy | $489.55 |
Texas Roadhouse (TXRH) | 3.5479 of 5 stars | $187.38 | +3.6% | 1.30% | 34.01 | Hold | $183.50 |
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