Target reinstated as Top Pick at Oppenheimer, shares rise

Investing.com11-25

Investing.com -- Oppenheimer on Monday reinstated Target Corporation (NYSE:TGT) as a top pick. The firm had previously removed TGT from its top pick status in mid-October when the stock was trading ...

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Following a reset, Oppenheimer now sees a \"very compelling risk/reward scenario\" for TGT shares.The investment firm highlighted several factors that contribute to its positive outlook, including their analysis showing that TGT shares are at or near a bottom, negative investor sentiment, and achievable Q4 guidance.Oppenheimer also pointed to a path to 6% operating margins and potential support from an attractive dividend yield. The next key catalyst, according to the firm, could be the 2025 analyst day.Oppenheimer believes that TGT's Q4 guidance accounts for the various risks associated with the holiday season, including discretionary category headwinds and markdown risks. The firm's FY24 forecast remains unchanged and aligns with the low e","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"QLD":"纳指两倍做多ETF","PSQ":"纳指反向ETF","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4155":"大卖场与超市","SG9999014906.USD":"大华全球优质成长基金Acc USD",".IXIC":"NASDAQ Composite","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","TQQQ":"纳指三倍做多ETF","LU0823411888.USD":"法巴消费创新基金 Cap","CHD":"丘奇＆德怀特","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","TGT":"塔吉特","OPY":"奥本海默控股","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0061474960.USD":"天利环球焦点基金AU Acc","FRPT":"Freshpet","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","COST":"好市多","LU1941712264.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"A\" (USD) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","QID":"纳指两倍做空ETF","SQQQ":"纳指三倍做空ETF","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","AMZN":"亚马逊","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","WMT":"沃尔玛","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","BK4550":"红杉资本持仓","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC"},"translate_title":"塔吉特恢复奥本海默首选，股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMZN":1,"WMT":1,"OPY":1,"FRPT":1,"COST":1,"CHD":1,"TGT":0.9,".IXIC":0.7,"TQQQ":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SQQQ":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"Investing.com -- Oppenheimer on Monday reinstated Target Corporation (NYSE:TGT) as a top pick.\nThe firm had previously removed TGT from its top pick status in mid-October when the stock was trading around $157, due to concerns about apparel clearance inventory. Following a reset, Oppenheimer now sees a \"very compelling risk/reward scenario\" for TGT shares.\nThe retailer's shares rose more than 3%.\nThe investment firm highlighted several factors that contribute to its positive outlook, including their analysis showing that TGT shares are at or near a bottom, negative investor sentiment, and achievable Q4 guidance.\nOppenheimer also pointed to a path to 6% operating margins and potential support from an attractive dividend yield. The next key catalyst, according to the firm, could be the 2025 analyst day.\nOppenheimer's updated top six picks now include Church&Dwight (NYSE:CHD) Co, Costco Wholesale Corporation (NASDAQ:COST), Freshpet (NASDAQ:FRPT), Inc., Sanchez Energy Corporation, Target, and Walmart (NYSE:WMT).\nOppenheimer believes that TGT's Q4 guidance accounts for the various risks associated with the holiday season, including discretionary category headwinds and markdown risks. The firm's FY24 forecast remains unchanged and aligns with the low end of the full-year guidance.\n“As we have highlighted in our recent checks, stores appear well merchandised for the holidays with seasonal assortments now fully on display,” analysts Rupesh Parikh and Erica Eiler noted.\nThe firm also remains optimistic about TGT's long-term potential, maintaining that management can drive comparable growth back to the low single-digit range. Oppenheimer's conservative modeling suggests an operating margin recovery to 5.3% by FY26, leaving room for potential upside.\nOppenheimer views the current investor sentiment around TGT as “overly negative” and continues to see the recent challenges as primarily driven by category-specific headwinds rather than structural issues within the company.\n“Traffic increased a healthy 2.4% in Q3 with categories such as beauty, food and beverage, and essentials performing well,” analysts highlight.\nTheir conservative stance through FY26 suggests limited downside risk, with a downside projection around the $110-120 level. The firm also points out that TGT's current dividend yield of approximately 3.5% could provide some support to the stock price.\nAt the same time, Oppenheimer pointed out several risks to its positive stance, including the possibility of a more promotional retail environment or a lack of improvement in discretionary categories later in FY25.\nWhile competitors like Amazon.com (NASDAQ:AMZN), Costco, and Walmart may continue to gain market share, Oppenheimer still believes that TGT has the potential to gain share over time. The firm has adjusted its quarterly FY25 earnings per share forecasts accordingly.\nRelated Articles\nTarget reinstated as Top Pick at Oppenheimer, shares rise\nNvidia, United Health lead market cap stock movers on Monday\nBarclays starts coverage on bitcoin miner Marathon, rating EW with $27 PT","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486395820"}