- Target Corporation (TGT, Financial) announces an upcoming exclusive collaboration with Kate Spade New York.
- Wall Street analysts suggest a significant potential upside for Target shares in 2024.
- GuruFocus estimates a notable increase in Target's fair value.
Target Corporation (TGT) is gearing up for an exciting new launch, as it rolls out an exclusive collection with the iconic Kate Spade New York. This anticipated line, which will feature more than 300 unique fashion and home items, is set to debut on April 12. The collection aims to merge Kate Spade's renowned style with Target's dedication to affordability, offering apparel, accessories, and home essentials starting at just $5. Despite this promising collaboration, Target's shares have seen a slight increase of 0.2% in premarket trading, but overall, the stock has experienced a 22.8% decline year-to-date.
Wall Street Analysts Provide Optimistic Forecasts
Investor interest in Target Corp (TGT, Financial) is currently bolstered by positive predictions from Wall Street. According to one-year price targets provided by 31 analysts, the average target price is $135.13, with projections ranging between a high estimate of $160.00 and a low estimate of $100.00. This average target suggests a potential upside of 27.90% from its current trading price of $105.65. For a more comprehensive view of these estimates, investors are encouraged to visit the Target Corp (TGT) Forecast page.
Currently, the consensus recommendation from 39 brokerage firms places Target Corp (TGT, Financial) at an average rating of 2.5, indicating an "Outperform" status. The brokerage firm's rating scale spans from 1 to 5, where 1 implies a Strong Buy, and 5 indicates a Sell recommendation.
Target's GF Value Suggests Attractive Investment Potential
According to GuruFocus estimates, Target Corp's (TGT, Financial) GF Value, which encapsulates the fair value at which the stock should ideally be traded, is projected to reach $155.15 within the next year. This projection represents a substantial 46.85% upside from the current price of $105.65. The GF Value is determined by analyzing historical trading multiples, past business growth, and future performance estimates. More in-depth information is accessible through the Target Corp (TGT) Summary page.
