Does Target Stock Have More Room To Run?

does target stock have more room to run

Sumary of Does Target Stock Have More Room To Run?:

  • [+] Greim/LightRocket via Getty Images) © 2013 John Greim [Updated: 09/15/21] Target Stock Update Target (NYSE: TGT) recently released its Q2 report, wherein revenues came in flat and adjusted earnings per share were 5% above our estimates.
  • The company’s revenues grew a strong 9.5% year-over-year (y-o-y) to $25.2 billion, on the back of U.S. comparable sales rising 8.9% during the second quarter (which also was ahead of the comps consensus estimate of 8.2%).
  • While digital sales contributed to these gains, rising customer traffic was the biggest factor as it handled 13% more transactions in this quarter than it did a year ago.
  • In addition, the discount retailer’s operating margin held steady at 10% of sales in Q2, almost double Walmart’s (NYSE: WMT) rate – largely due to higher prices and a shift in demand toward premium products.
  • For full-year 2021, Target is expecting high single-digit growth in comparable sales, near the high end of the previous guidance range of positive single-digit comparable sales growth.
  • It is also expecting an operating income margin rate of 8% or higher.
  • We now forecast sales to be $102 billion for fiscal 2021, up 9% y-o-y, and adjusted EPS to come in at $12.42, up 32% y-o-y.
  • [Updated: 08/17/21] Target Q2 Pre-Earnings Target (NYSE: TGT), the second-largest discount chain in the U.S., is scheduled to report its fiscal second-quarter results on Wednesday, August 18. We expect Target’s stock to likely see little movement due to revenue and earnings coming in line with the market expectations.

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