Target Rating Lowered to Neutral at Goldman Sachs (TGT)
Target (NYSE:TGT) was downgraded by Goldman Sachs from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $59.00 target price on the stock, down from their previous target price of $65.00. Goldman Sachs’ price target points to a potential upside of 1.78% from the stock’s previous close.
Target (NYSE:TGT) traded down 0.10% during mid-day trading on Wednesday, hitting $57.97. 7,263,377 shares of the company’s stock traded hands. Target has a 52-week low of $54.66 and a 52-week high of $71.86. The stock has a 50-day moving average of $59.44 and a 200-day moving average of $58.92. The company has a market cap of $36.736 billion and a price-to-earnings ratio of 19.60.
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. On average, analysts predict that Target will post $3.62 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners cut their price target on shares of Target from $59.00 to $56.00 in a research note on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at S&P Equity Research raised their price target on shares of Target from $3.07 to $4.53 in a research note on Monday. They now have an “average” rating on the stock. Finally, analysts at TheStreet upgraded shares of Target to a “buy” rating in a research note on Monday. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.90.
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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