Stifel Reiterates Buy Rating on Target (TGT) Following EPS, Offers Review of Earnings Report
![](https://www.streetinsider.com/images/summaries/70/resize_TARGET_5a54dc1e56e10.jpg)
Get Alerts TGT Hot Sheet
Rating Summary:
26 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 14 | New: 27
Join SI Premium – FREE
Stifel analyst Mark S. Astrachan reiterated a Buy rating and $280.00 price target on Target (NYSE: TGT).
The analyst comments "We view comp growth and guidance as most notable as indicative that strong share gains are continuing. Gross margin was meaningfully below consensus and reflective of current inflationary costs around input costs, supply chain, logistics and wages/headcount in distribution centers. While somewhat transitory, we look for more color on the earnings call regarding the anticipated duration of higher costs. That said, strong SG&A expense leverage is also notable and likely to continue given F4Q EPS guidance. We anticipate TGT shares modestly underperforming today, though believe it remains a core holding in retail given sustainability of share gains and EPS growth despite cost pressures"
For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.
Shares of Target closed at $266.39 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freeport-McMoran (FCX) Commences Commissioning of New Indonesian Smelter and Provides Update on Second-Quarter 2024 Copper and Gold Sales
- Rivian shares pop as Q2 deliveries surpass forecast
- Tesla (TSLA) produces about 411,000 vehicles and delivers 444,000 vehicles in second quarter
Create E-mail Alert Related Categories
Analyst Comments, Hot CommentsRelated Entities
Stifel, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!