Target Q3 Earnings Preview: Modest Downside Risk With Margin Recovery Prospects
Portfolio Pulse from Surbhi Jain
Target Corp (NYSE:TGT) is set to report Q3 earnings with an expected EPS of $1.48 and revenue of $25.31 billion. BofA analysts see modest downside risks due to inflation and macro challenges but maintain a Buy rating with a $135 price target. Target's stock has declined 36% over the past year, but improving margins and a low forward price multiple present a buy opportunity. Analysts will focus on macro headwinds and margin improvements in the earnings call.
November 14, 2023 | 8:54 pm
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Target is expected to report Q3 earnings with potential modest downside risks. BofA analysts maintain a Buy rating and a $135 price target. The stock's significant decline could be seen as a buying opportunity due to improving margins.
While there are modest downside risks due to macroeconomic factors, the analysts' maintained Buy rating and the potential for margin recovery suggest a neutral to positive outlook. The stock's current low price presents a potential buy-the-dip opportunity, which could stabilize or increase the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100