Yesterday, Target Corp (NYSE:TGT) reported its first-quarter FY24 earnings and the following are the comments on the same by different analysts.
BMO Capital – Reiterates Market Perform, lowers price target from $170.00 to $155.00
Analyst Kelly Bania said that while Target’s first-quarter results were in line with her expectations, investor expectations for continued GM% upside were clearly reigned in.
With signs of share losses widening in food & consumables, continued weakness in digital growth and signs of increasing same-day competition from Amazon.com Inc (NASDAQ:AMZN) and Walmart Inc (NYSE:WMT), the analyst lowered the price target to $155.
The analyst believes 6% EBIT margins remain the target, but the pace of achieving the target could take longer than expected.
Related: Target Blames ‘Strain On Consumer Wallet’ For Tough Quarter
RBC Capital Markets – Reiterated Outperform, lowers price target from $191.00 to $181.00
Analyst Steven Shemesh opined that with the majority of the easy gross margin wins in the rearview, the focus will shift back to demand trends /market share, for which visibility is fairly limited.
Consumer response to recent price cuts will be of particular importance, noted the ...