Target Price Cut By Oppenheimer To 18,000
TGT Stock Forecast Down
Analyst Sentiment Remains Bullish
Oppenheimer analyst Rupesh Parikh lowered his price target on Target (TGT) to $18,000 from $20,000 while maintaining a Buy rating on the stock.
The move comes as Target faces a challenging retail environment, with inflation and supply chain issues weighing on consumer spending.
However, Parikh remains bullish on Target's long-term prospects, citing the company's strong brand, loyal customer base, and omnichannel strategy.
Analysts' Consensus Price Target
The average price target among 28 analysts covering Target is $17,439, with a high estimate of $23,000 and a low estimate of $15,000.
- 12-month price targets range from $15,000 to $23,000.
- Analysts' consensus rating is Buy.
Recent Analyst Activity
In addition to Oppenheimer, several other analysts have recently weighed in on Target:
- Morgan Stanley analyst Simeon Gutman maintained a Buy rating on Target with a price target of $19,000.
- UBS analyst Michael Lasser lowered his price target on Target to $17,500 from $18,500 while maintaining a Buy rating.
Conclusion
Despite the price target cut, analysts remain optimistic about Target's long-term prospects. The company's strong brand, loyal customer base, and omnichannel strategy position it well to navigate the current challenges and continue to grow in the future.
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