Target, Ross Stores Expected To Post Higher Revenues As Consumers Stay Resilient: Analysts
Portfolio Pulse from Michael Juliano
Analysts from Tesley Advisory Group expect Target Corporation (NYSE:TGT) and Ross Stores, Inc. (NYSE:ROST) to post higher revenues for the second quarter due to resilient consumer spending. Target's revenue is forecasted to rise by 2% to $25.3 billion, while Ross Stores' revenue is expected to jump by 6.9% to $5.28 billion. Both companies have received positive ratings from analysts.
August 17, 2024 | 4:46 pm
News sentiment analysis
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NEUTRAL IMPACT
BlackRock Future U.S. Themes ETF (BTHM) slipped 0.03% despite positive revenue forecasts for Target and Ross Stores.
The ETF's slight decline suggests other factors may be influencing its performance, despite the positive revenue forecasts for Target and Ross Stores.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
LG QRAFT AI-Powered U.S. Large Cap Core ETF (LQAI) remained unchanged despite positive revenue forecasts for Target and Ross Stores.
The ETF's unchanged performance suggests other factors may be influencing its performance, despite the positive revenue forecasts for Target and Ross Stores.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Federated Hermes U.S. Strategic Dividend ETF (FDV) went up 0.41% amid positive revenue forecasts for Target and Ross Stores.
The ETF's performance is positively influenced by the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
iShares U.S. Consumer Focused ETF (IEDI) moved up 0.24% as Target and Ross Stores are expected to post higher revenues.
The ETF's slight gain reflects the positive sentiment from the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
VictoryShares THB Mid Cap ETF (MDCP) rose 0.52% amid positive revenue forecasts for Target and Ross Stores.
The ETF's performance is positively influenced by the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Simplify Next Intangible Value Index ETF (NXTV) edged up 0.15% as Target and Ross Stores are expected to post higher revenues.
The ETF's slight gain is influenced by the positive revenue forecasts for Target and Ross Stores, which are part of its holdings.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Analyst Dana Tesley forecasts a 6.9% year-over-year increase in Q2 revenue for Ross Stores to $5.28 billion, exceeding the consensus. Tesley maintains a Market Perform rating and a $160 price target.
The strong revenue forecast and positive historical performance suggest a likely short-term price increase for Ross Stores. The Market Perform rating indicates moderate confidence in continued growth.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RSPD) rose 0.29% amid positive revenue forecasts for Target and Ross Stores.
The ETF's slight gain reflects the positive sentiment from the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
VanEck Retail ETF (RTH) gained 0.61% as Target and Ross Stores are expected to post higher revenues.
The ETF's performance is positively influenced by the expected revenue increases of its holdings, Target and Ross Stores.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Analyst Joseph Feldman expects Target's Q2 revenue to improve by 2% to $25.3 billion, exceeding the FactSet consensus. Feldman maintains an Outperform rating and a $190 price target on Target shares.
The positive revenue forecast and Outperform rating suggest a likely short-term price increase for Target. The focus on value offerings and private brands also supports this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Vanguard Consumer Staples ETF (VDC) gained 0.32% as Target and Ross Stores are expected to post higher revenues.
The ETF's slight gain reflects the positive sentiment from the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Consumer Staples Select Sector SPDR Fund (XLP) picked up 0.27% amid positive revenue forecasts for Target and Ross Stores.
The ETF's slight gain reflects the positive sentiment from the expected revenue increases of its constituent companies, including Target and Ross Stores.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 40