Susquehanna Downgrades Target Corp. to Neutral (TGT)
Target Corp. (NYSE:TGT) was downgraded by stock analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $73.00 price objective on the stock, up from their previous price objective of $55.00. Susquehanna’s target price points to a potential upside of 6.98% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Target Corp. (NYSE:TGT) opened at 68.24 on Tuesday. Target Corp. has a 52-week low of $58.01 and a 52-week high of $73.50. The stock’s 50-day moving average is $71.3 and its 200-day moving average is $68.70. The company has a market cap of $43.790 billion and a P/E ratio of 16.03.
Target Corp. (NYSE:TGT) last released its earnings data on Wednesday, May 22nd. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by $0.10. The company had revenue of $16.60 billion for the quarter, compared to the consensus estimate of $16.82 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts predict that Target Corp. will post $4.33 earnings per share for the current fiscal year.
TGT has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Target Corp. from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday, August 8th. They now have a $74.00 price target on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Target Corp. from $83.00 to $85.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.53.
Target Corporation (NYSE:TGT) operates in three segments: U.
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