- Aprile 11, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Minneapolis, MN-based retail giant and department store chain operator Target has been an established player in the consumer goods sector for decades. As of 2021, the company operates 1,926 stores throughout the United States.
In terms of price performance so far this year, Target has outperformed its sector – the S&P 500 Consumer Discretionary Index. While Target is up 0.6%, the index is down a whopping 14.3% over the same period.
In its latest quarterly results, Target’s revenue and earnings witnessed impressive growth. While revenue was up 9.4% year-over-year to $31 billion, its earnings stood at $3.19 per share, up 19.2% from the same quarter last year. Analysts had expected the company to post earnings and revenue of $2.86 per share and $31.41 billion, respectively.
On April 8, Gordon Haskett Corporation analyst Charles Grom upgraded the stock to Buy from Hold and raised the price target from $255 to $300, which implies upside potential of 28.6% from current levels.
According to the analyst, Target’s prospects look strong. Grom is of the opinion that the company has the requisite wherewithal to tide through the current economic headwinds in the global economy.
Overall, the Street is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on 15 Buys and six Holds. TGT’s average price target of $278.63 implies that the stock has upside potential of 19.4% from current levels. Shares have gained 13.8% over the past year.
