Wills Financial Group Inc. Acquires New Stake in Target Corporation (NYSE:TGT)

Target says sales are up after a year-long slump

Target says sales are up after a year-long slump

Buckingham Research reaffirmed a "buy" rating and set a $71.00 price target on shares of Target Corporation in a research note on Wednesday, April 19th.

Both GAAP and adjusted EPS are expected to reflect a 5-9-cent benefit driven by the net tax effect of Target's global sourcing operations, and GAAP EPS is expected to reflect 2-3 cents of pressure related to the unfavorable resolution of tax matters, the company also said. TheStreet cut shares of Target Corporation from a "b-" rating to a "c+" rating in a report on Monday, March 27th. In the DCF model I used (I calculated with a discount rate / required return of 7%), Target is now undervalued by about 50% when the growth rate remains at 1% going forward.

Bank of America Corporation (NYSE:BAC)'s stock on Thursday traded at beginning with a price of $24.43 and when day-trade ended the stock finally popped up 1.11% to reach at $24.62. The company has a market capitalization of $29.41 billion, a P/E ratio of 10.92 and a beta of 0.60. There are brokerage firms with lower targets than the average, including one setting a price target of $44. Quarter to quarter Target's same store sales have already improved slightly, but with Target guiding for a positive same store sales number it looks like Target's comps will see a big bump in the next earnings announcement (which will be made in August). However, the second largest discount retailer in the USA is now expecting a growth in comps and an EPS above high-end of prior guidance, $0.95-$1.15, for the quarter. More importantly, management stated that its same store sales are performing better than expected as well, the company guides for an increase in its same store sales now (management had expected another decline previously). The firm's quarterly revenue was down 1.1% compared to the same quarter a year ago. Company fiscal year is ending in December and analysts' consensus recommendation is Outperform for BAC and estimated EPS for next quarter is $0.46.

Stock market analysts and brokers have recently amended their target prices on shares of Target Corporation (NYSE:TGT).

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. After $0.66 actual earnings per share reported by Southern Co for the previous quarter, Wall Street now forecasts 6.06% EPS growth. This represents a $2.48 annualized dividend and a dividend yield of 4.65%.

Target Corporation was downgraded to "neutral" by analysts at Citigroup.

COPYRIGHT VIOLATION WARNING: "Target Corporation (NYSE:TGT) Releases Q2 Earnings Guidance" was first published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and worldwide trademark and copyright legislation. Honeywell International Inc. raised its position in shares of Target Corporation by 44.8% in the first quarter. 2702 shares were traded on Target Corporation's last session. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. Cribstone Capital Management LLC now owns 1,906 shares of the retailer's stock valued at $101,000 after buying an additional 1,016 shares during the last quarter. The institutional investor bought 25,181 shares of the retailer's stock, valued at approximately $1,390,000.

03/02/2017 - Target Corporation had its "market weight" rating reiterated by analysts at BMO Capital Markets. Finally, Great Lakes Advisors LLC increased its stake in Target Corporation by 1.5% in the first quarter.

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