WEB Analysts Anticipate Lower Target Stock Price Goal Before Earnings Release
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Goldman Sachs Adjusts Target Price Outlook
WEB analysts have lowered their stock price target for Target Corporation (NYSE: TGT) ahead of the company's upcoming earnings release.
Evercore ISI has added Target to its Tactical Underperform list, while Goldman Sachs has also downgraded its rating on the stock.
Some key reasons behind the revised outlooks include:
- Concerns over rising inflation and its impact on consumer spending
- Increased competition from discount retailers
- Potential for lower-than-expected earnings in the first quarter
Analysts surveyed by FactSet currently expect Target to report earnings per share (EPS) of $1.83 for the first quarter, down from $2.19 in the same period last year.
Despite the lowered expectations, some analysts remain optimistic about Target's long-term prospects, citing the company's strong market share and its recent investments in e-commerce and digital initiatives.
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