The consensus analyst price target for Target has slipped slightly, moving from $101.36 to $100.70 per share. Expectations for the company’s near-term value have been gently revised downward. This adjustment follows recent analysis reflecting both optimism about management changes and operational improvements, as well as continued uncertainty stemming from ongoing challenges. Stay tuned to learn how you can keep track of evolving analyst sentiment and key factors shaping Target’s outlook going forward.

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🐂 Bullish Takeaways

• Several analysts maintain constructive views on Target, with some highlighting operational improvements and strategic opportunities tied to new management and execution.

• Jefferies noted encouraging results, pointing to strong digital and alternative revenue growth, disciplined cost control, and improved shrink driving margin tailwinds, even as comps remain soft. The firm lowered its price target to $115 from $120 but kept a Buy rating.

• TD Cowen analyst Oliver Chen increased the firm’s price target on Target to $110 from $100, signaling optimism after updated Q2 results, although growth challenges remain.

• RBC Capital’s Steven Shemesh also raised the price target, from $104 to $107, and maintained an Outperform rating. The recent leadership transition could help address competitive positioning issues, and the firm remains hopeful for a reinvestment cycle.

• UBS’s Michael Lasser kept a Buy rating and set a new price target of $130, down from $135, following updates after the Q2 earnings report.

• DA Davidson, despite lowering its target from $125 to $115, kept a Buy rating and identified some operational improvements. The firm noted signs of better trends relative to expectations in Q2.

• Key drivers highlighted in these bullish perspectives include improved execution, cost discipline, leadership changes with potential for strategic renewal, and margin stabilization.

• Reservations acknowledged by bullish analysts include persistent softness in comps, ongoing growth headwinds, and the need for substantial reinvestment.

🐻 Bearish Takeaways

• Other analysts retain a more cautious or outright negative outlook, emphasizing structural and macroeconomic challenges for Target.

• Wolfe Research initiated coverage with an Underperform rating and $80 price target, stating that Target will need major reinvestment in labor, capital expenditures, and advertising to turn around sales momentum after persistent share losses and weak execution.

• Truist lowered its price target to $83 from $102 and continues to express concerns about Target’s recent merchandising and marketing missteps. The firm signaled that further innovation and increased investment spending are necessary. Sales deterioration was noted for the current quarter, based on firm card data.

• Roth Capital reiterated a Neutral rating and $90 price target, describing Target as “poorly positioned” against a tough macro backdrop following years of underinvestment. Continued margin and revenue contraction are seen as hindering growth prospects.

• Additional notes of caution include the impact of reduced government benefits on sector sales. Wolfe Research noted that Target is less exposed than peers but still faces secondary effects on consumer confidence.

• Concerns repeatedly cited by bearish analysts revolve around the company’s valuation pressure, uncertainty over the effectiveness of new leadership, and the scale of investment still required to restore competitive standing.