) had its "buy" rating reaffirmed by analysts over at Deutsche
Bank, according to ARN. It has a target price of $74 on the stock.
Bank of America-Merrill Lynch and Citigroup also boosted their
price targets for TGT to $72 and $79, respectively. On Wall Street,
the stock currently has a consensus rating of "buy" and an average
target price of $73.
At $68.40, Target is an attractively priced company with plenty of
upside. Over the past ten years, TGT has grown its dividends by
nearly 20%, with a dividend yield of 2.12%. Target has a 52-week
low of $54.93 and a 52-week high of $71.24. Target has a market cap
of $43.85 billion and a P/E ratio of 15.
Today, Target reported first-quarter earnings of $498 million or
$0.77 per share. The company's adjusted EPS for the first quarter
was $1.05. Target reported $16.6 billion in revenue for the US
compared to its newly opened Canada stores, which brought in $86
million in sales. There are currently only 24 stores operating in
Canada, but Target plans to open 100 more stores by the end of
Although some figures were lower than what analysts were expecting,
CEO Gregg Steinhafel still believes that this expansion will prove
profitable for Target. "We remain confident in our strategy, and we
continue to invest in initiatives, including Canada, our digital
channels, and CityTarget, that will drive Target's long-term
growth," said Steinhafel.
Buy the TGT Jan 14 70-75 call spread for about $1.53
$153 per one lot
$347 per one lot
Greeks of this Trade: