(CercleFinance.com) – Jefferies reiterates its ‘buy’ recommendation on Target with a price target lowered from 175 to 165 dollars, the day after a mixed publication from the low-cost food distribution group for its second quarter.
While like-for-like sales missed market expectations, the broker highlights a strong gross margin that enabled Target to post better-than-expected EPS over the past quarter.
Looking ahead, current year comparable sales and EPS targets were lowered due to a weak sales trend, but Jefferies’ continues to see margin recovery opportunities for the second semester’.
Copyright © 2023 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
