4 Target Analysts Explore Latest Earnings Beat, 2024 Growth Strategy, Potential Share Buyback
Portfolio Pulse from Surbhi Jain
Target Corp (NYSE:TGT) shares rose after reporting Q4 2023 revenue of $31.92 billion, a 1.7% increase YOY, surpassing estimates. Analysts from JPMorgan, Goldman Sachs, BofA Securities, and Telsey provided insights, highlighting lower markdowns, reduced freight costs, and a favorable product mix as success drivers. They anticipate Target's growth strategy for 2024 to focus on innovations, market share gains, and profitability recovery, with price targets ranging from $160 to $176.
March 05, 2024 | 7:18 pm
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Target Corp reported a Q4 2023 revenue increase of 1.7% YOY to $31.92 billion, beating estimates. Analysts from JPMorgan, Goldman Sachs, BofA Securities, and Telsey are optimistic about Target's 2024 growth strategy and have set price targets ranging from $160 to $176.
The positive earnings report and optimistic outlook from analysts are likely to instill confidence in investors, potentially driving up Target's stock price in the short term. The range of price targets from respected analysts further supports the potential for stock appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100