Target Corporation TGT reported weaker-than-expected earnings for its third quarter.
Target reported third-quarter FY22 sales growth of 3.4% year-on-year to $26.52 billion, beating the consensus of $26.38 billion. EPS of $1.54 missed the analyst consensus of $2.13.
Target sees a low-single-digit decline in comparable sales for Q4. The company expects Q4 operating margin rate of around 3%.
Target shares dipped 13.1% to close at $155.47 on Wednesday.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the retailer in the recent period.
- Jefferies analyst Corey Tarlowe upgraded the stock from Hold to Buy on October 18, 2022, and raised the price target from $170 to $185. This analyst sees a 19% upside in the company’s stock.
- Accuracy Rate: 69%
- Keybanc’s analyst Bradley Thomas initiated an Overweight rating on the stock on September 14, 2022, with a price target of $200. This analyst sees a 28.6% upside in the company’s stock.
- Accuracy Rate: 70%
- Deutsche Bank’s analyst Krisztina Katai maintained a Buy rating on the company on August 18, 2022, but cut the price target from $195 to $193.
- Accuracy Rate: 78%
- Truist Securities analyst Scot Ciccarelli maintained a Hold rating on the stock on August 18, 2022, and boosted the price target from $150 to $165.
- Accuracy Rate: 75%
- Stifel’s analyst Mark Astrachan reiterated a Hold rating on August 18, 2022, and raised the price target from $185 to $195.
- Accuracy Rate: 78%