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Why Analysts Raised Price Target on Target Stock


Jan. 11 2018, Updated 11:46 a.m. ET

Analysts raise price target on Target

Target (TGT) stock rose 2.3% on January 10, 2018, as multiple analysts boosted their target price on the stock. The company posted stellar holiday sales numbers and lifted its sales and earnings outlook, which led five out of 27 analysts covering the stock to raise their 12-month price target. Notably, Susquehanna upgraded TGT stock to “positive” from “neutral” and lifted its price target to $84 from $54. Besides Susquehanna, BMO increased its target price to $82 per share from $67, while UBS raised it to $73 from $70.

Also, Deutsche Bank increased its price target on TGT stock by 23% to $70. Meanwhile, Telsey Advisory Group lifted its price target to $75 from $65.


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Ratings summary and price target

Following the recent upgrade, about 19.0% of the analysts now have a “buy” rating on TGT stock, up from 15.0% earlier. Meanwhile, 70.0% of analysts now recommend a “hold,” down from 74.0% before the holiday sales results. Moreover, 11.0% of analysts maintained their “sell” rating on the stock.

TGT stock closed at $70.73 on January 10, 2018, which is slightly above the analysts’ 12-month price target of $70.35 per share.

In comparison, analysts maintain a favorable outlook on the prospects of Costco (COST) stock. The company has been generating strong sales. Meanwhile, Costco’s earnings are projected to grow at a double-digit rate in the near term despite the company’s continued investments in growth. Moreover, Costco reported strong December sales, wherein comps rose 11.5%.

As for Walmart (WMT), analysts believe that the company’s margins are likely to remain pressured owing to its increased business investments, so they are maintaining a neutral outlook. However, the company is projected to report higher top and bottom line results in the coming quarters, thanks to its strong e-commerce sales and increased store traffic.


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