These Analysts Revise Their Forecasts On Target Following Q1 Results

Target Corporation TGT reported weaker-than-expected first-quarter results on Wednesday.

Target registered adjusted earnings per share of $1.30, missing analysts’ consensus estimate of $1.64. Quarterly sales of $23.85 billion (down 2.8% year over year) missed the Street view of $24.32 billion.

“In the first quarter, our team navigated a highly challenging environment and focused on delivering the outstanding assortment, experience and value guests expect from Target,” said Brian Cornell, chair and chief executive officer of Target Corporation. “While our sales fell short of our expectations, we saw several bright spots in the quarter, including healthy digital growth, led by a 36 percent increase in same-day delivery through Target Circle 360, and our strongest designer collaboration in more than a decade, kate spade for Target.”

Target lowered its FY2025 adjusted EPS guidance from $8.80–$9.80 to $7.00–$9.00 versus the $8.48 estimate and saw a sales decline in the low single digits. Target also revised its FY2025 GAAP EPS guidance from $8.80–$9.80 to $8.00–$10.00.

Target shares gained 1.5% to trade at $94.43 on Thursday.

These analysts made changes to their price targets on Target following earnings announcement.

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Morgan Stanley analyst Simeon Gutman maintained Target with an Overweight rating and lowered the price target from $160 to $112.
Wells Fargo analyst Edward Kelly maintained the stock with an Overweight rating and cut the price target from $135 to $115.
Truist Securities analyst Scot Ciccarelli maintained Target with a Hold and raised the price target from $82 to $90.

Considering buying TGT stock? Here’s what analysts think: