JPMorgan Chase & Co. Has Lowered Expectations for Target (NYSE:TGT) Stock Price

Target (NYSE:TGT) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $117.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the retailer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.05% from the stock’s current price.

A number of other research analysts have also recently commented on TGT. Wolfe Research began coverage on shares of Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 target price on the stock. Barclays reiterated an “underweight” rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. BTIG Research initiated coverage on Target in a research note on Tuesday, October 14th. They set a “neutral” rating for the company. Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research report on Tuesday, July 29th. Finally, Zacks Research downgraded Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $108.71.

Target Trading Up 1.1%

NYSE:TGT opened at $91.70 on Monday. The business’s 50-day moving average is $90.65 and its two-hundred day moving average is $96.32. The firm has a market capitalization of $41.67 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Target has a 12 month low of $85.36 and a 12 month high of $158.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts predict that Target will post 8.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Target

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RWA Wealth Partners LLC boosted its position in Target by 1,237.0% during the 3rd quarter. RWA Wealth Partners LLC now owns 37,731 shares of the retailer’s stock valued at $3,385,000 after purchasing an additional 34,909 shares during the period. JFS Wealth Advisors LLC grew its position in shares of Target by 50.9% during the third quarter. JFS Wealth Advisors LLC now owns 2,661 shares of the retailer’s stock worth $239,000 after acquiring an additional 897 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Target by 12.1% in the 3rd quarter. TD Asset Management Inc now owns 189,084 shares of the retailer’s stock worth $16,961,000 after acquiring an additional 20,383 shares during the period. Greenland Capital Management LP bought a new stake in Target in the 3rd quarter valued at about $257,000. Finally, Cowa LLC acquired a new position in Target during the 3rd quarter valued at about $267,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.