Retail giant Target Corporation ( TGT ) on Friday saw its price target and earnings estimates lowered by analysts at JPMorgan.
The firm maintained its "Overweight" rating on TGT but cut its price target from $60 to $58. That new target suggests a more than 13% upside to the stock's Thursday closing price of $51.06.
JPMorgan also lowered its earnings estimates for the company, noting its credit card unit is still a drag on profits.
Target shares fell 76 cents, or -1.5%, in premarket trading Friday.
The Bottom Line
Shares of Target ( TGT ) have a 2.35% dividend yield, based on last night's closing stock price of $51.06. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.
Target Corporation ( TGT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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