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Citi expects Target (TGT) to miss consensus estimates as traffic data declines
By: Investing.com | August 8, 2023
Citi analysts told investors in a note Tuesday that the firm expects Target Corporation (NYSE:TGT) to miss the second-quarter top and bottom-line expectations as well as guidance estimates when it reports on August 16.
The analysts, who have a Neutral rating and a $130 price target on the stock, said their view was, in part, based on the deceleration in TGT traffic data in late May that continued through June.
"We model sales down 5.5% vs consensus of -2.1% and guidance of sales centered around - LSD. We model EPS of $1.27 vs consensus of $1.54 and guidance of $1.30-1.70," wrote the analysts.
"Weak 2Q top-line trends will also cause mgmt to lower the high end of their annual EPS guidance range as they will likely have more modest top-line assumptions for 2H. The stock is down about 15% since the 1Q call, driven by weaker traffic trends, so weaker results in 2Q are largely expected," they added.
They noted that the magnitude of the 2Q sales decline and 3Q-to-date sales/traffic trends have the potential to be a negative surprise to the market.
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Oppenheimer says take advantage of Target dips
By: Investing.com | August 1, 2023
Oppenheimer analysts told investors in a note previewing Target 's (NYSE:TGT) upcoming earnings that the firm is positive on the stock.
TGT will report its second quarter results on August 16, and Oppenheimer, who has an Outperform rating and $165 price target on the stock, said it "continues to anticipate a multiyear margin recovery and an earnings reset."
"This is widely anticipated by investors in our conversations; however, the magnitude of an EPS reduction continues to be an area of debate. Based on our work, we are now projecting EPS of $7.00 in FY23, down from $7.90 previously and below guidance of $7.75-8.75."
Oppenheimer now expects an eventual rebound to $10+ in earnings power to take even longer than previously envisioned. However, for longer-term players, the analysts said they would continue to take advantage of dips and a currently depressed valuation.
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TARGET'S LATEST MANNEQUIN DISPLAY FOR THEIR NEW CLOTHING LINE:
TARGET'S EARNINGS (LOSSES) AUGUST 16TH.... THIS POS WILL GET SMASHED!!!!!!
SHORT THE CRAP OUT IF IT!!!!!!!!!
Additionally, there is continued pressure from increased shrinkage caused by organized crime, which is a significant unknown factor affecting estimates.
Target double downgraded at Raymond James on soft near-term trends
By: Investing.com | July 26, 2023
Shares of Target (NYSE:TGT) fell over 1% in pre-open trading Wednesday after previously bullish analysts at Raymond James reversed course and downgraded the stock two notches on “concerning” near-term trends.
Analysts cut his rating on the retailing giant to Market Perform from Strong Buy, thereby skipping the Outperform rating in its rating system. The prior price target of $190 was also removed.
“We are downgrading TGT to a Market Perform rating from a Strong Buy ahead of Target’s F2Q23 earnings slated for August 16th,” analysts commented. “Our change in opinion reflects our belief that QTD sales & traffic trends have remained soft after taking a step down early in the quarter and suggest Target is losing topline momentum.”
Furthermore, analysts noted there have been additional signs pointing to a weakness in overall consumer discretionary spending, which holds particular significance for TGT's product mix. This has led to the emergence of a stronger possibility of a heightened promotional environment and a shift in the mix of consumables. As a result, Target's margin recovery story, which was a crucial aspect of their previous thesis, is likely to experience delays.
Additionally, there is continued pressure from increased shrinkage caused by organized crime, which is a significant unknown factor affecting estimates. The analysts said it is probable that there won't be any substantial improvement in this area for the remainder of FY23, resulting in approximately a 100 basis points headwind in F1Q.
The firm lowered Q2 EPS estimates to $1.15 from $1.45. Meanwhile, the firm’s comp sales estimate for the quarter was lowered to -5.0% from -2.5%.
“We believe sales trends slowed for TGT in late May and this pressure continued, potentially driving a comp sales miss versus consensus,” the analysts added.
FY2023 EPS estimates go to $7.15 from $7.85, FY 2024 to $8.05 from $10.40, and FY 2025 to $9.10 from $11.35.
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TARGET'S DEVIANT MANNEQUIN DISPLAYS ARE NOTHING BUT OBSCENE PORNOGRAPHY.... THEY ARE INTENTIONALLY GROSSING OUT THEIR OWN CUSTOMERS AND DRIVING THEM AWAY IN DISGUST!!!!!!!!
WAHT'S WRONG WITH TARGET'S INSANE MANAGEMENT??????
Good! Hopefully these decision making sickos spend time in prison and added to the sex-offenders list.
TARGET IS GOING BANKRUPT!!!!!!!!!!!
Target $TGT alerted a TW Pivot buy signal at the end of last week, will we see a bounce off the pre-COVID highs?
By: TrendSpider | July 4, 2023
• $TGT Target alerted a TW Pivot buy signal at the end of last week, will we see a bounce off the pre-COVID highs?
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NOBODY IS BUYING TUCK FRIENDLY WRAP AROUND CLOTHING FOR THE GENDER CONSFUSED!!!!!!!!!
MARKETING TO 0.3% IS NOT A WISE BUSINESS STRATEGY WHILE DRIVING 99.7% AWAY OUT OF REVULSION!!!!!!!!!
THIS STINKING POS STOCK MANAGED TO CLOSE DOWN TODAY EVEN WITH THE MASSIVE ENDOOF Q2/H1 WINDOW DRESSING PUMP THE REST OF THE MARKET HAD!!!!!!!!!!
Target is DISgusting!!!
Raymond James & Associates Increases Holdings in Target Co. (TGT)
By: MarketBeat | June 24, 2023
• Raymond James & Associates increased its holdings in shares of Target Co. (NYSE:TGT) by 14.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,870,035 shares of the retailer's stock after purchasing an additional 238,448 shares during the period. Raymond James & Associates owned 0.41% of Target worth $309,734,000 as of its most recent filing with the Securities and Exchange Commission...
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Target stock falls after JPMorgan places it on 'negative catalyst watch'
By: Investing.com | June 23, 2023
Target (NYSE:TGT) shares fell 0.4% early Friday after a Negative Catalyst Watch was issued by JPMorgan analysts, raising concerns about potential challenges ahead of its 2Q earnings announcement.
The analysts highlighted two key factors contributing to the Negative Catalyst Watch for Target. First, an upcoming Supreme Court decision on student loans is expected to impact Target more significantly than other broadlines retailers. This ruling could potentially result in a 1-2 percentage point reduction in retail sales growth, causing investor unease.
They also point to risks surrounding Target's sales performance during the upcoming July 4th holiday period. If customer traffic fails to meet expectations, Target may face challenges such as increased comp risk for back-to-school sales, inventory markdowns, and potential delays in the margin recovery story. Additionally, a guidance cut on 2Q performance, anticipated in mid-August, adds to concerns surrounding Target's stock.
JPMorgan's Negative Catalyst Watch highlights potential risks for Target, including the upcoming Supreme Court decision on student loans and challenges during the July 4th holiday period. These factors, along with the possibility of inventory issues and a guidance cut, contribute to a cautious outlook on Target's stock performance. Investors will closely monitor how the company addresses these challenges as they await the 2Q earnings announcement.
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Target a 'highly debatable name' - Goldman Sachs
By: Investing.com | June 22, 2023
Goldman Sachs analysts said in a note Thursday that historically, a pullback of this level for Target (NYSE:TGT) "would be considered a notable buying opportunity." The firm raised its price target on the stock to $185, up from $180, maintaining a Buy rating.
The stock has lost ~22% of its market cap since April 11 and is trading at a relative multiple not seen since Jun 2022, explained the analysts, who added that it has piqued the interest of many investors.
However, they note that "a still-tentative consumer coupled with a call for a boycott of the retailer given a decision surrounding a certain merchandise decision has made the name highly debatable."
"While we are lowering our Q2 estimates to reflect the likelihood of more challenged traffic, we reiterate our Buy rating on Target given we do not anticipate this to weigh on results for more than one quarter," they added.
"Further, although the consumer backdrop is still tentative, we think the stock trading at a ~25% discount to the market is more than pricing in a slower top line."
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People had enough of companies like Target "Targeting Our Kids"
They are losing sales daily which is bad business
After a brutal Q2, Target (TGT) is coming into its best performing month in July, with an 80% win rate and average return of +4.22% over the last 20 years.
By: TrendSpider | June 19, 2023
• Tides turning for Target?
After a brutal Q2, Target is coming into its best performing month in July, with an 80% win rate and average return of +4.22% over the last 20 years.
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Target Corp. $TGT Nice trader this week on Activist chatter.. buy the rumor sell the news type of thing
By: Options Mike | June 19, 2023
• $TGT Nice trader this week on Activist chatter.. buy the rumor sell the news type of thing.
138 resistance now.
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Callan Family Office LLC Purchases Shares of 5,158 Target Co. (TGT)
By: MarketBeat | June 15, 2023
• Callan Family Office LLC acquired a new position in shares of Target Co. (NYSE:TGT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,158 shares of the retailer's stock, valued at approximately $769,000...
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Target Co. (TGT) Announces Dividend Increase - $1.10 Per Share
By: MarketBeat | June 15, 2023
• Target Co. (NYSE:TGT) announced a quarterly dividend on Thursday, June 15th, RTT News reports. Shareholders of record on Wednesday, August 16th will be given a dividend of 1.10 per share by the retailer on Sunday, September 10th. This represents a $4.40 annualized dividend and a yield of 3.30%. This is a boost from Target's previous quarterly dividend of $1.08...
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Target (TGT) Stock Extends Bounce After Dividend Hike
By: Schaeffer's Investment Research | June 15, 2023
• The retailer hiked dividends to $1.10 per share
• TGT shed 17.6% over the past nine months
Target Corp (NYSE:TGT) stock is up 2% at $135.97 this morning, after the retailer said it will hike dividends to $1.10 per share, or 1.9%. Target has been engulfed in controversy of late, after pulling some of its LGBTQ-themed products from stores amid customer backlash.
The security is bouncing off a June 12, three-year low of $125.08, and pacing for its third-straight daily win. The 20-day moving average is still keeping a lid on today's rally, though, and TGT has shed 17.6% in the past nine months.
Options bulls are chiming in, with 66,000 calls across the tape so far -- four time the intraday average -- compared to 16,000 puts. Most popular is the June 140 call, with positions being opened there. This means traders expect more upside for TGT before tomorrow's close, when these contracts expire.
This penchant for bullish bets has been the norm lately, per the stock's 10-day call/put volume ratio of 1.90 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 89% of readings from the past year.
Now could be a good opportunity to weigh on Target stock's next moves with options, per its Schaeffer's Volatility Index (SVI) of 29%, which ranks at the 7th percentile of readings in its annual range.
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Target Textbook RSI divergence play on Target starting to take shape with shares up +3.25% this morning!
By: TrendSpider | June 14, 2023
• $TGT Textbook RSI divergence play on Target starting to take shape with shares up +3.25% this morning!
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Target $1.1 Million Put • Strike: 125 • Expiration: 7/14/23
By: Cheddar Flow | June 9, 2023
• $TGT $1.1M OTM Put
Strike: 125
Expiration: 7/14/23
*At the Ask*
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Target $TGT Opening PUT sweepers come in at LOD in to 07/14 $120 & $115 PUTS
By: FLOWrensics | June 8, 2023
• $TGT Opening PUT sweepers come in at LOD in to 07/14 $120 & $115 PUTS.
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