New York, August 3 (FinanceEnquiry.com) – Analyst Ian Gordon at S&P CAPITAL IQ maintains STRONG BUY ratings on the shares of Target Corporation (NYSE: TGT). The 12-month target price is set to $72.
In a research note published yesterday, the analyst states that the FY13 EPS for January has been kept at $4.26. TGT posted July comparable store sales growth of 3.1 percent, which has been marginally ahead of bank’s forecast of 2.5 percent and a third party consensus of 2.6 percent.
It has been believed that investors have been bracing for a lower result due to a slowly deteriorating macro environment in the US, mainly related to employment. However, strong results have been attributed to TGT’s growing loyalty program, grocery expansion and innovative merchandising. TGT has been scheduled to post Q2 earnings on August 15 and EPS of $0.98. The indicated yield stood at 2.3 percent, the analyst says.
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