Target Given New $0.79 Price Target at Wed (TGT)
Equities research analysts at Wed reduced their price objective on shares of Target (NYSE:TGT) from $3.10 to $0.79 in a research note issued to investors on Wednesday. Wed’s target price points to a potential downside of 98.67% from the stock’s previous close.
Target (NYSE:TGT) traded up 0.95% during mid-day trading on Wednesday, hitting $59.81. 4,080,551 shares of the company’s stock traded hands. Target has a 1-year low of $54.66 and a 1-year high of $67.25. The stock’s 50-day moving average is $59.50 and its 200-day moving average is $58.96. The company has a market cap of $37.902 billion and a price-to-earnings ratio of 20.02. Target also saw some unusual options trading activity on Tuesday. Traders purchased 11,627 call options on the company. This represents an increase of 159% compared to the typical daily volume of 4,490 call options.
Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.80 by $0.02. The company had revenue of $17.00 billion for the quarter. During the same quarter in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that Target will post $3.49 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on TGT. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Target in a research note on Wednesday, August 6th. They now have a $60.00 price target on the stock, down previously from $62.00. Separately, analysts at Morgan Stanley cut their price target on shares of Target from $60.00 to $58.00 in a research note on Wednesday, August 6th. Finally, analysts at Deutsche Bank cut their price target on shares of Target from $58.00 to $57.00 in a research note on Wednesday, August 6th. They now have a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Target currently has an average rating of “Hold” and an average price target of $57.68.
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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