RBC Capital raises Target stock price target to $130 on turnaround
#Target Corporation #RBC Capital #Stock Price Target #Michael Fiddelke #Retail Turnaround #Analyst Upgrade #Earnings Estimates #NYSE:TGT
📌 Key Takeaways
- RBC Capital raised Target's stock price target to $130 from $99
- The upgrade is based on Target's turnaround efforts including workforce reductions and $2 billion reinvestment
- Analysts have revised earnings estimates upward with improved projections through 2027
- Multiple firms have increased price targets reflecting growing confidence in Target's strategy
📖 Full Retelling
RBC Capital raised its price target on Target Corporation stock (NYSE:TGT) to $130 from $99 while maintaining an Outperform rating on March 4, 2026, citing the retail giant's successful turnaround efforts under CEO Michael Fiddelke, including workforce reductions, leadership changes, and a $2 billion reinvestment plan focused on merchandising, supply chain, and store experience. The stock currently trades at $120.80, up 33% over the past six months and near its 52-week high of $122.43, indicating strong investor confidence in the company's recovery trajectory. The financial firm revised its first-quarter 2026 estimates to flat comparable sales and earnings per share of $1.35, up from $1.31 previously, while maintaining its comparable sales estimate at 1.0% growth for full-year 2026 and raising adjusted EPS to $8.05 from $7.61. Looking ahead, RBC introduced 2027 estimates with comparable sales growth of 2.0% and adjusted EPS of $8.63, with the new price target based on a multiple of approximately 15 times, up from 13 times previously, applied to the 2027 estimate, reflecting the firm's confidence in evidence of positive change at the company.
🏷️ Themes
Stock Market, Retail, Corporate Turnaround
📚 Related People & Topics
Target Corporation
American retail corporation
Target Corporation, doing business as Target, is an American retail corporation headquartered in Minneapolis, Minnesota, United States. Target operates retail stores. It is the eighth-largest retailer in the United States and is a component of the S&P 500 Index.
RBC Capital Markets
Global investment bank
RBC Capital Markets is a global investment bank providing services in banking, finance, and capital markets to corporations, institutional investors, asset managers, and governments globally. Locations span 55 offices in 15 countries across North America, the UK, Europe, and the Asia-Pacific region....
Entity Intersection Graph
No entity connections available yet for this article.
Mentioned Entities
Original Source
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Iran conflict latest: NATO downs missile heading for Turkey Gold prices bounce after hefty drop; Iran conflict complicates central bank plans South Korean stock trading temporarily halted as KOSPI slides over 11% Barclays sees European stocks falling 10% if oil hits $100 (South Africa Philippines Nigeria) RBC Capital raises Target stock price target to $130 on turnaround By Analyst Ratings Published 03/04/2026, 07:48 AM RBC Capital raises Target stock price target to $130 on turnaround 0 TGT 6.74% Investing.com - RBC Capital raised its price target on Target stock (NYSE:TGT) to $130 from $99 while maintaining an Outperform rating. The stock currently trades at $120.80, up 33% over the past six months and near its 52-week high of $122.43. The firm cited swift action by CEO Michael Fiddelke, including a workforce reduction, leadership changes, and a $2 billion incremental reinvestment announcement. RBC Capital said the investment appears focused on merchandising, supply chain, and the store experience. The firm revised its first-quarter 2026 estimates to flat comparable sales and earnings per share of $1.35, up from $1.31 previously. For full-year 2026, RBC Capital maintained its comparable sales estimate at 1.0% growth and raised adjusted EPS to $8.05 from $7.61. RBC Capital introduced 2027 estimates with comparable sales growth of 2.0% and adjusted EPS of $8.63. The firm said it rolled its valuation forward one year. The new price target is based on a multiple of approximately 15 times, up from 13 times previously, applied to the 2027 adjusted EPS estimate. RBC Capital said the higher multiple reflects evidence of change at the company. Target currently trades at a P/E ratio of 13.71, and according to InvestingPro analysis, the stock appears slightly overvalued relative to its Fair Value. InvestingPro Tips highlight that 10 analysts have revised their earnings upwards for the upcoming period, while the compan...
Read full article at source