Target (NYSE:TGT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday. The brokerage presently has a $88.00 price target on the retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.68% from the company’s current price.

According to Zacks, “Target is trying all means to rapidly adapt to the changes in the retail ecosystem. The company’s initiatives such as the development of omni-channel capacities, diversification and localization of assortments along with emphasis on flexible format stores bode well. These efforts helped post solid holiday numbers that allowed management to lift sales and earnings view. As a result, the stock has outpaced the industry in a month. Comparable sales rose 3.4% in the combined November/December period buoyed by healthy store comps, robust traffic and sturdy digital sales. Target now expects digital sales to increase more than 25% for the fourth straight year in fiscal 2017. Further, Target now envisions comparable sales to increase approximately 3.4% during the fourth quarter with full year expected to be just over 1%. Lately, estimates are trending up ahead of the fourth quarter earnings release.”

Other equities research analysts have also issued reports about the stock. TheStreet raised shares of Target from a “c+” rating to a “b” rating in a report on Thursday, September 28th. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Vetr lowered shares of Target from a “strong-buy” rating to a “buy” rating and set a $66.10 target price for the company. in a report on Wednesday, November 29th. MKM Partners initiated coverage on shares of Target in a report on Wednesday, October 18th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Sanford C. Bernstein set a $65.00 target price on shares of Target and gave the stock a “buy” rating in a report on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $66.78.

Shares of Target (NYSE:TGT) opened at $78.10 on Friday. The company has a market cap of $42,450.00, a PE ratio of 16.41, a PEG ratio of 4.12 and a beta of 0.63. Target has a 52-week low of $48.56 and a 52-week high of $78.17. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. sell-side analysts expect that Target will post 4.72 earnings per share for the current fiscal year.

In other Target news, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.61, for a total value of $294,580.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bedell Frazier Investment Counseling LLC bought a new position in shares of Target during the 3rd quarter valued at approximately $219,000. Heritage Trust Co boosted its position in shares of Target by 129.7% during the 3rd quarter. Heritage Trust Co now owns 1,771 shares of the retailer’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. SevenBridge Financial Group LLC boosted its position in shares of Target by 2,200.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,909 shares of the retailer’s stock valued at $113,000 after acquiring an additional 1,826 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Target by 109.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,503 shares of the retailer’s stock valued at $141,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Cable Hill Partners LLC boosted its position in shares of Target by 848.8% during the 3rd quarter. Cable Hill Partners LLC now owns 2,666 shares of the retailer’s stock valued at $157,000 after acquiring an additional 2,385 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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Target Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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