Target Corporation (TGT) Given New $50.00 Price Target at Morgan Stanley

Target Corporation (NYSE:TGT) had its price objective dropped by research analysts at Morgan Stanley from $52.00 to $50.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “underweight” rating on the retailer’s stock. Morgan Stanley’s price target would suggest a potential downside of 8.59% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. TheStreet upgraded shares of Target Corporation from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. MKM Partners boosted their price target on shares of Target Corporation from $58.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Vetr downgraded shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $60.28 price target on the stock. in a research report on Thursday, July 20th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Finally, Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.60.

Target Corporation (NYSE:TGT) traded up $0.54 during trading hours on Thursday, reaching $54.70. 3,884,818 shares of the company traded hands, compared to its average volume of 7,295,463. The company has a current ratio of 0.91, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98. Target Corporation has a twelve month low of $48.56 and a twelve month high of $79.33. The firm has a market cap of $29,580.00, a P/E ratio of 12.19, a PEG ratio of 5.38 and a beta of 0.63.

Target Corporation (NYSE:TGT) last posted its earnings results on Wednesday, November 15th. The retailer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $16.61 billion. During the same period last year, the company earned $1.04 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. equities analysts predict that Target Corporation will post 4.53 earnings per share for the current fiscal year.

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In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $59.37, for a total transaction of $277,792.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gyroscope Capital Management Group LLC bought a new stake in shares of Target Corporation during the third quarter valued at about $527,000. Belpointe Asset Management LLC bought a new stake in shares of Target Corporation during the third quarter valued at about $577,000. Stonebridge Capital Advisors LLC increased its position in shares of Target Corporation by 5.1% during the third quarter. Stonebridge Capital Advisors LLC now owns 39,449 shares of the retailer’s stock valued at $2,328,000 after buying an additional 1,920 shares during the period. Piedmont Investment Advisors LLC increased its position in shares of Target Corporation by 29.6% during the third quarter. Piedmont Investment Advisors LLC now owns 182,709 shares of the retailer’s stock valued at $10,782,000 after buying an additional 41,754 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Target Corporation by 5.3% during the third quarter. California Public Employees Retirement System now owns 1,707,997 shares of the retailer’s stock valued at $100,789,000 after buying an additional 85,736 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

About Target Corporation

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Analyst Recommendations for Target Corporation (NYSE:TGT)

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