Target Given New $61.00 Price Target at Morgan Stanley (TGT)
Equities research analysts at Morgan Stanley upped their price target on shares of Target (NYSE:TGT) from $58.00 to $61.00 in a research note issued to investors on Thursday. Morgan Stanley’s target price indicates a potential upside of 1.11% from the stock’s previous close.
Target (NYSE:TGT) opened at 60.33 on Thursday. Target has a 52 week low of $54.66 and a 52 week high of $67.25. The stock’s 50-day moving average is $59.56 and its 200-day moving average is $58.97. The company has a market cap of $38.231 billion and a P/E ratio of 20.02. Target also was the target of unusually large options trading on Tuesday. Investors acquired 11,627 call options on the stock. This is an increase of 159% compared to the typical volume of 4,490 call options.
Target (NYSE:TGT) last announced its earnings results on Wednesday, August 20th. The company reported $0.78 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.80 by $0.02. The company had revenue of $17.00 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company posted $0.95 earnings per share. Target’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Target will post $3.49 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Target from $52.00 to $55.00 in a research note on Thursday. Separately, analysts at Wed cut their price target on shares of Target from $3.10 to $0.79 in a research note on Wednesday. Finally, 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. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.93.
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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