$Target(TGT)$ πΊπ ±οΈππ »π »π Έππ ·
Longer term ~ love thisβ£οΈ
Kia ora Tiger traders!
π―π Targeting a Bullseye or Holiday Hustle?ππ―
Letβs talk Target Corporation ($TGT) β a beloved retail giant thatβs been through some wild market terrain lately! Post-earnings drama? Oh yes! Misses across the board, yet this titan still holds long-term promise. Buckle up, Tigers; hereβs the scoop!
Citi downgrades Target to Neutral from Buy - PT $130 (from $188)
Target's Q3 results were notably weak, suggesting market share loss to Walmart, especially among higher-income shoppers, according to Citi. This might push Target to increase promotions to boost sales, making FY25 outlook uncertain. Despite the stock price dropping 19% to $126.90 in premarket, Citi sees a more balanced risk/reward.
Q3 Earnings Snapshot:
π» Adj EPS: $1.85 (vs Est. $2.30)
π» Revenue: $25.23B (vs Est. $25.74B), yet up 0.9% YoY!
π» Comparable Sales: +0.3% (vs Est. +1.48%)
π» Gross Margin: 27.2% (vs Est. 28.7%)
π» Inventory Pile-Up: $15.17B, up +2.9% YoY.
The Worrying Guidance Cuts:
π» FY24 Adj EPS revised to $8.30β$8.90 (prior $9.00β$9.70).
π» Q4 Comparable Sales expected flat during the crucial holiday season.
But wait! Thereβs more to Target than just missed earnings! π
Key Highlights & Resilient Fundamentals:
β Digital Sales Boom: +10.8% YoY (Est. +4.69%)!
β Strong Customer Traffic: Up +2.4%, led by Target Circle 360β’ perks.
β Beauty sales? β¨ Gorgeous 6% growth! Essentials and food? Holding steady.
β 81.5% of sales are still store-originated β brick-and-mortar power πͺ.
CEO Brian Cornell remains upbeat, saying, βStrong traffic growth and robust digital performance highlight Targetβs resilience despite current headwinds.β
Dividends Anyone? πΈ
Donβt forget! Target is set to trade ex-dividend on 20Nov24, π³πΏNZ Time for a $1.12/share payout. This brings the annual dividend to $4.48/share, offering a tasty 2.9% trailing yield at a $153 price level.
Analyst Takes (39 Analysts):
π’ Buy: 21%
π‘ Hold: 36%
π΄ Sell: 3%
π Average Target Price: $176 (Upside +12.62%).
Near-term volatility, long-term resilience? You bet. Targetβs legendary strength in tough times could make it a holiday gift to your portfolio.
Chart Whisper:
Technical patterns hint at a potential bounce back to $210 in the long term. Watch for support at $152 and resistance at $165! Are we due for a breakout?
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @Daily_Discussion @TigerObserver @TigerPM @TigerStars @TigerPicks @TigerGPT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Target Corporation (TGT) Stock Analysis
Business Overview: Target Corporation is a retail giant in the United States, operating in the general merchandise and food sectors. Despite recent challenges, Target has long-term promise with its strong market presence and resilient performance.
Earnings and Forecast: Target Corporation's Q3 results were weaker than expected, with adjusted earnings per share (EPS) of $1.85 (vs. Est. $2.30) and revenue of $25.23 billion (vs. Est. $25.74 billion). However, the company showed a 0.9% year-over-year revenue growth. The guidance for FY24 adjusted EPS was revised to $8.30-$8.90 (prior $9.00-$9.70), and Q4 comparable sales are expected to be flat during the crucial holiday season. Looking ahead, Target's earnings forecast shows positive growth, with estimated EPS of $9.55 in FY25, $10.50 in FY26, and $11.51 in FY27.
Stock Price Analysis: The current stock price for Target Corporation is $156.0 (USD). The support price is $155.57, resistance price is $159.07, and the average cost is $158.51. Technical patterns suggest a potential bounce back to $210 in the long term, with support at $152 and resistance at $165.
Analyst Recommendations: According to 39 analysts, 21% recommend buying Target stock, 36% recommend holding, and 3% recommend selling. The average target price is $176, indicating an upside potential of +12.62%.
Capital Flow Data: Over the past 5 days, there has been a net outflow of capital from Target stock, with a total outflow of $14.12 million.
Dividends: Target Corporation is set to trade ex-dividend on 20Nov24, with a payout of $1.12 per share. The annual dividend is $4.48 per share, offering a trailing yield of 2.9% at the current price level.
News Impact: Recent news and events, such as Target's Q3 earnings miss and market share loss to Walmart, have influenced the stock price. However, positive factors include a strong growth in digital sales (+10.8% YoY), customer traffic increase (+2.4% led by Target Circle 360β’ perks), and growth in beauty sales (+6%).
Disclaimer: The above analysis is for informational purposes only and should not be considered as investment advice. Investing in the stock market carries inherent risks, and stock prices can fluctuate. Investors should conduct their own research and analysis before making investment decisions.
Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?
Great article, would you like to share it?