Target Heads For An Earnings Reset In Q2 Hurt By Challenges In Discretionary Categories Amid Pride-Related Impacts
Portfolio Pulse from Nabaparna Bhattacharya
Oppenheimer analyst Rupesh Parikh has reiterated an Outperform rating on Target Corporation (TGT), but lowered the price target from $190 to $165. The company is expected to report its quarterly results on August 16, 2023, with net sales expected to be $24.91 billion and EPS of $1.15. Parikh has lowered the EPS projection for FY23 to $7.00, down from $7.90, due to ongoing challenges in discretionary categories and potential headwinds related to the student loan payment restart. Despite near-term pressures, Parikh remains bullish for long-term players, anticipating a multiyear margin recovery.

August 04, 2023 | 10:01 am
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Target's price target has been lowered by Oppenheimer analyst due to ongoing challenges in discretionary categories and potential headwinds related to the student loan payment restart. However, the analyst remains bullish for long-term players.
The lowered price target and EPS projection for FY23 indicate potential short-term negative impact on Target's stock. However, the analyst's bullish stance for long-term players suggests potential positive impact in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100