Target Corporation (TGT) is Downgraded by Cowen to Market Perform, Lowers Price Target to $ 68

Target Corporation (TGT) was Downgraded by Cowen to ” Market Perform” while Lowering the Price Target of the company shares to $ 68 from a previous price target of $75 . Earlier the firm had a rating of “Outperform ” on the company shares. Cowen advised their investors in a research report released on Sep 12, 2016.

Many Wall Street Analysts have commented on Target Corporation. Shares were Downgraded by Cowen on Sep 12, 2016 to ” Market Perform” and Lowered the Price Target to $ 68 from a previous price target of $75 .Shares were Reiterated by Telsey Advisory Group on Aug 18, 2016 to “Outperform” and Lowered the Price Target to $ 82 from a previous price target of $88 .Company shares were Reiterated by Deutsche Bank on Aug 15, 2016 to “Hold”, Firm has raised the Price Target to $ 79 from a previous price target of $78 .

On the company’s financial health, Target Corporation reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $1.13. The company had revenue of $16169.00 million for the quarter, compared to analysts expectations of $16170.29 million. The company’s revenue was down -7.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.22 EPS.

Target Corporation opened for trading at $69.94 and hit $70.42 on the upside on Wednesday, eventually ending the session at $70.3, with a gain of 0.29% or 0.2 points. The heightened volatility saw the trading volume jump to 5,131,516 shares. Company has a market cap of $40,413 M.

In a different news, on May 23, 2016, Calvin Darden (director) sold 37,105 shares at $67.02 per share price. According to the SEC, on May 23, 2016, Catherine R Smith (Executive Officer) purchased 5,000 shares at $67.82 per share price. On Mar 18, 2016, Timothy R Baer (Executive Officer) sold 23,782 shares at $82.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Target Corporation is engaged in providing everyday essentials and fashionable and differentiated merchandise at discounted prices. The Company offers its products through stores online or through mobile devices. The Company sells an assortment of general merchandise and food through its store and digital channels. Its general merchandise stores offer an edited food assortment including perishables dry grocery dairy and frozen items. Its urban format stores CityTarget and TargetExpress offer edited general merchandise and food assortments. Its digital channels include an assortment of general merchandise including various items found in its stores along with a complementary assortment such as additional sizes and colors sold online. The Company’s brands include Archer Farms Simply Balanced Boots & Barkley Circo Embark Gilligan & O’Malley Market Pantry Merona Room Essentials Smith & Hawken Spritz and Sutton & Dodge.

Target Corporation

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