Will Target's $7 Billion Bet Pay Dividends?
Target Corporation's (NYSE: TGT) third-quarter earnings report was better than anticipated. The retail giant reported both a top- and bottom-line beat by producing revenue of $16.67 billion and adjusted earnings per share (EPS) of $0.91, versus Thomson Reuters' analyst expectations of $16.61 billion and $0.86, respectively. Perhaps more importantly, the company reported a same-store sales advance of 0.9%, versus estimates of a 0.4% increase.
Instead of seeing rallying shares, Target stock fell approximately 10% in the trading session following the report. Cautious guidance for the critical fourth quarter made investors nervous. As of this writing, shares of Target are down 24%, while the greater S&P 500 is up 16%.
Target has outlined a plan to reverse its slide, but will its plan pay off?
Source: Fool.com
Target Corp. Stock
Our community is currently high on Target Corp. with 38 Buy predictions and 13 Sell predictions.
However, we have a potential of -7.62% for Target Corp. as the target price of 126 € is below the current price of 136.4 €.
