Target Co. has been making headlines in the stock market as it continues to outperform analysts’ expectations, garnering a “Moderate Buy” rating from thirty-two research firms that currently cover the company, according to Bloomberg Ratings. With thirteen analysts giving Target a hold rating and fourteen assigning a buy rating, the company has one strong buy rating from an analyst.
The average target price for Target over the next twelve months among analysts who have followed the stock in the last year is $181.69. This figure suggests potential growth for investors if they choose to invest in Target, as that represents a $35 upward surge from the current share value of $146.20.
Target’s most recent quarterly earnings report shows significant growth, with earnings per share at $1.89, beating consensual estimates by 49 cents per share during Q4 of 2020-2021 fiscal years. Other notable growth indicators are revenues at $31.40 billion and Net margin increasing by 2.55%. These figures compare favorably with those of Q3 of 2019-2020 fiscal years which had earnings per share standing at $3.19.
Large investment firms are already taking note of Target’s performance and attributing its success to sound financial strategy practiced internally through investing in infrastructure growth, product diversification and specialization, etc., and strategic relationships with external partners resulting in some impressive numbers on their balance sheet.
Moneta Group Investment Advisors LLC recently increased its stake in Target by an incredible 95,980%, indicating just how attractive investors see Target’s future prospects; Fisher Asset Management LLC now owns over four million shares worth more than seven hundred million dollars – another clear indication of investor confidence; Amundi increased its holdings by over one hundred percent during Q4 of 2020-21 FY indicating high investor interest towards this retail giant.
In summary, all signs point to significant potential upside for those interested in investing in Target. It has been marked as a “Moderate Buy” by various research institutions, and their sound financial reports backed up through strategic relationships nurtured with external investors who have solidly invested in Target’s future successes make this stock worth considering.
Target Corporation Receives Varied Ratings from Equity Analysts
Target Corporation, commonly referred to as Target, recently received varied ratings from equity analysts. Wells Fargo & Company lowered Target’s shares from an “overweight” rating to an “equal weight” rating and also reduced the price target of the company from $170.00 to $142.00 on Wednesday, January 4th. On the other hand, Cowen dropped their target price on Target from $210.00 to $200 in a report published on Wednesday, February 15th while Piper Sandler lifted their price target on Target’s stocks from $200.00 to $220.00 in a research report issued on Wednesday, February 8th.
StockNews.com began covering this retail giant’s shares in a research note published on Thursday, March 16th; they rated the company as “hold.” On March 1st of this year, Credit Suisse Group increased its price objective for Target’s stocks from $160.00 to $170.00 and rated its stock as “neutral”. These fluctuations have led many retail investors curious about Target’s standing in the market.
Target is currently trading at $166.06 per share with a market cap of $76.45 billion and a beta of 1.05 in comparison with stocks from peers such as Walmart or Amazon.
Many large institutions like Fisher Asset Management LLC and Moneta Group Investment Advisors LLC have recently made changes in their investment portfolio and increasing/ decreasing their stake in Target shares. Some data shows that Fisher Asset Management increased its stake by over 122% during Q3 CY2020 but Norges Bank acquired a new position in Q4 CY2020 valued at roughly USD750 million.
Lastly, it should be noted that Brian C Cornell-a leading insider- sold 35 thousand shares earlier this year which some believe may have influenced analysts’ ratings.
Despite all these fluctuations throughout the past few months – it is worth noting that all indications show that Target is strong enough to remain a market leader.