The updated estimates from Bernstein take into account Target 's revised guidance on Q4 comparable sales growth, which is now expected at 1.5% versus the previously anticipated flat growth. The analysts noted that e-commerce was a significant driver of sales growth in Q4 to date. Despite this, Target did not adjust its earnings per share (EPS) guidance in light of the stronger-than-expected sales, leading Bernstein to slightly lower their gross margin estimate for Q4.In sum, the increase in the price target to $142 is a result of these changes in Bernstein's estimates, balancing the company's sales growth against the challenges in margin recovery due to the e-commerce business and pricing strategy. The broader analyst community maintains targets ranging from $103 to $170, with 18 analysts recently revising their earnings estimates upward for the upcoming period, as reported by InvestingPro. The broader analyst community maintains targets ranging from $103 to $170, with 18 analysts recently revising their earnings estimates upward for the upcoming period, as reported by InvestingPro.
The updated estimates from Bernstein take into account Target's revised guidance on Q4 comparable sales growth, which is now expected at 1.5% versus the previously anticipated flat growth. The analysts noted that e-commerce was a significant driver of sales growth in Q4 to date. Despite this, Target did not adjust its earnings per share (EPS) guidance in light of the stronger-than-expected sales, leading Bernstein to slightly lower their gross margin estimate for Q4.In sum, the increase in the price target to $142 is a result of these changes in Bernstein's estimates, balancing the company's sales growth against the challenges in margin recovery due to the e-commerce business and pricing strategy. The broader analyst community maintains targets ranging from $103 to $170, with 18 analysts recently revising their earnings estimates upward for the upcoming period, as reported by InvestingPro.
The updated estimates from Bernstein take into account Target's revised guidance on Q4 comparable sales growth, which is now expected at 1.5% versus the previously anticipated flat growth. The analysts noted that e-commerce was a significant driver of sales growth in Q4 to date. Despite this, Target did not adjust its earnings per share (EPS) guidance in light of the stronger-than-expected sales, leading Bernstein to slightly lower their gross margin estimate for Q4.
In sum, the increase in the price target to $142 is a result of these changes in Bernstein's estimates, balancing the company's sales growth against the challenges in margin recovery due to the e-commerce business and pricing strategy.
In other recent news, Target Corporation (NYSE:TGT) has seen a flurry of activity, with a series of announcements highlighting the company's strategic moves. Recent developments include the conclusion of its diversity and inclusion programs, a revised stock target by Guggenheim, an update to its bylaws, and a raised stock price target by Truist Securities.
Target has announced the termination of its diversity, equity, and inclusion goals, planning to wrap up its Racial Equity Action (WA:ACT) and Change initiatives by 2025. The company has also emphasized its commitment to fostering a sense of belonging among its team, guests, and communities.
In the financial realm, Guggenheim has raised its stock price target for Target from $145 to $155, maintaining a buy rating. The adjustment comes in response to Target's strong sales performance during the holiday season. Truist Securities has also adjusted its price target on Target shares, increasing it to $134.00 from the previous $129.00.
Furthermore, Target Corporation has amended its bylaws, including the expansion of the Lead Independent (LON:IOG) Director role. This move is seen as a step to enhance the governance structure of the Minneapolis-based retailer.
These are the recent developments in Target's ongoing efforts to enhance its corporate governance and financial performance.
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