Target Stock Forecast 2023
Target Stock Forecast: Latest Price
Target Stock Forecast: Latest News
- Target Corporation has announced a collaboration with Rowing Blazers, a brand known for refreshing classic American style by blending trendy designs with timeless influences. The collection, available on Target.com and select stores starting September 23rd, features over 100 colorful items spanning clothing, accessories, home goods, outdoor play, and pet products, all of high quality and reasonably priced.
Target Stock Performance in the Last 12 Months
- Last 1 Month: -2.8%
- Last 6 Months: +23.1%
- Last 12 Months: -23.4%
Year to Date (2023): -12.6%
Target Stock Forecasts
Target Stock Predictions 2023: Analysts
|TGT Price Target||$165.1|
|Telsey Advisory Group||$175|
Target Stock Forecast: First quarter 2023 financial results
- Target’s sales increased by 0.5%, driven by the combination of flat comparable sales and sales from new locations. Traffic grew by 0.9% compared to Q1 2022.
- Comparable store sales experienced 0.7% growth, although digital sales declined.
- Same-day services, such as Drive-Up, saw mid-single-digit growth.
- Frequency businesses, including Beauty, Food and Beverage, and Household Essentials, performed well, offsetting weakness in discretionary categories.
- Inventory at the end of Q1 was 16% lower than the previous year, with significant reductions in discretionary categories but investments to support growing frequency categories.
- First quarter GAAP and Adjusted EPS were $2.05, slightly down from the previous year.
- The operating margin rate was 5.2%, outperforming expectations, due to a higher gross margin rate compared to the prior year.
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Target Stock Forecast: Reasons to buy Target stock
Target Corporation holds promising prospects across multiple dimensions. Firstly, as the economy rebounds, Target’s emphasis on discretionary goods positions it favorably to tap into increased consumer spending, capitalizing on the desire for non-essential items as people regain financial confidence. Secondly, its relatively high dividend yield appeals to a diverse investor base, offering steady income for income-oriented investors and a potential growth opportunity for those seeking capital appreciation, a combination seldom found in the market. Thirdly, the unwavering confidence exhibited by analysts underscores Target’s resilience, indicating the possibility of a stock rebound, a valuable aspect should a bull market emerge
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions