Target Price Target Lowered to $59.00 at MKM Partners (TGT)
Investment analysts at MKM Partners reduced their target price on shares of Target (NYSE:TGT) from $63.00 to $59.00 in a note issued to investors on Thursday. The firm currently has a “neutral” rating on the stock. MKM Partners’ target price points to a potential upside of 3.15% from the stock’s previous close.
Target (NYSE:TGT) traded down 1.77% on Thursday, hitting $56.1899. The stock had a trading volume of 3,869,722 shares. Target has a one year low of $54.66 and a one year high of $73.50. The stock’s 50-day moving average is $59.94 and its 200-day moving average is $60.80. The company has a market cap of $35.578 billion and a price-to-earnings ratio of 18.63. Target also was the target of unusually large options trading activity on Monday. Stock investors purchased 13,058 call options on the company. This is an increase of 116% compared to the average daily volume of 6,056 call options.
Target (NYSE:TGT) last released its earnings data on Wednesday, May 21st. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.01. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.02 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Target will post $3.91 EPS for the current fiscal year.
A number of other firms have also recently commented on TGT. Analysts at Telsey Advisory Group cut their price target on shares of Target from $64.00 to $62.00 in a research note on Thursday. They now have a “not rated” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Target from $57.00 to $52.00 in a research note on Thursday. They now have a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of Target from an “underperform” rating to a “neutral” rating in a research note on Monday, April 7th. They now have a $64.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Target currently has a consensus rating of “Hold” and an average price target of $65.45.
Target Corporation sells a range of assortment of general merchandise and food in its stores. The Company’s general merchandise and CityTarget stores offer a food assortment on a smaller scale and its SuperTarget stores offer a line of food items comparable to traditional supermarkets.
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