AllAnalyst Report
logoArgusJanuary 20, 2021

Target Corporation: Raising estimates and target after strong holiday

Symbols
TGT
Sector(s)
Consumer Defensive
Rating
Current Price
$205.76
Price Target
$NaN
Earnings Estimate
Summary

Target Corp. is the second-biggest U.S. discount retailer. It differentiates itself by selling stylish products at reasonable prices. The company has partnerships with an evolving group of designers. Based in Minneapolis, Target ended FY20 with 1,868 stores in the U.S. representing 240 million square feet. In January 2015, the company announced its exit from the Canadian store market along with plans to close approximately 130 stores in Canada. Target sold its in-store pharmacies to CVS in December of 2015. For the fiscal year ended February 1, 2020, the company had total revenues of $78 billion. Sales on Target.com represented about 8.8% of the total in FY20, up from 7% in FY19, 5.5% in FY18, and 4.4% in FY17. The company's fiscal year ends on the Saturday closest to January 31. Approximately 27% of merchandise sales came from Beauty and Household Essentials, 16% from hardlines, 18% from apparel and accessories, 19% from home products, and 20% from food.

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.