BMO Capital raised the firm’s price target (TGT) on Target to $130 from $105 and keeps a Market Perform rating on the shares. The company reported a stronger end to the year with Q4 earnings beat, and although traffic remain negative in the quarter, it improved in December and January while sales turned positive in February, the analyst tells investors in a research note. BMO adds however that it sees a risk Target needs a more significant investment in supply chain or selection given rising competitive pressures from Walmart (WMT), Amazon (AMZN), and Instacart (CART).
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Read More on TGT:
- Target price target raised to $130 from $125 at Guggenheim
- Target price target raised to $112 from $91 at Goldman Sachs
- Target price target raised to $135 from $130 at Wells Fargo
- Target price target raised to $106 from $103 at BofA
- Balanced View on Target: Traffic Reignition Potential vs. Execution Risks Keeps Rating at Hold