Wells Fargo and Barclays lifted Target’s price targets following strong Q1 earnings and improved sales outlook.
Target Corporation (TGT) shares climbed 35% over the past year and 25% year-to-date, driven by better-than-expected first-quarter results. The retailer reported $25.4 billion in revenue and $1.71 in earnings per share, surpassing estimates of $24.64 billion and $1.46, respectively.
Wells Fargo raised its price target to $140 from $135 and maintained an Overweight rating, citing potential for an upside surprise and guidance raise. Barclays also increased its target to $115 from $108, attributing the move to an improving sales environment. Analysts noted conservative guidance but highlighted 4% net sales growth, two percentage points above initial projections.
The upgrades reflect confidence in Target’s turnaround strategy, with focus on operational improvements and consumer demand trends.