Market Overview

UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Target Corporation

Share:
Related TGT
Pfizer, Target, JC Penney: Fast Money Picks For August 23
Barclays Cautious On Best Buy Heading Into Earnings
Game Plan For The Week - Cramer's Mad Money (8/22/16) (Seeking Alpha)

In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on Target Corporation (NYSE: TGT), but lowered its price target from $76.00 to $74.00.

J.P. Morgan noted, “We are maintaining our Overweight rating as we believe the stock is positioned for outperformance in 2013 based on accelerating earnings growth over the next two years against reasonable valuation with specific catalysts. We cite the following reasons: (1) accelerating sales, earnings, cash flow, and buyback growth in 2013-2014 related to Canada/leverage; (2) a derivative housing play with nearly 20% of sales in this category; and (3) valuation levels that support reasonable downside protection.”

Target Corporation closed on Monday at $59.17.

Latest Ratings for TGT

DateFirmActionFromTo
Aug 2016Goldman SachsMaintainsNeutral
Aug 2016CitigroupMaintainsBuy
May 2016Goldman SachsMaintainsNeutral

View More Analyst Ratings for TGT
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (TGT)

View Comments and Join the Discussion!