Analysts Raise Target Price Targets After Beat-and-Raise Q2 Results

Target Corp reported second-quarter results that beat expectations on Wednesday.

The company posted earnings per share of $2.46, surpassing the analyst consensus estimate of $2.33. Quarterly sales came in at $26.539 billion, exceeding the analyst consensus estimate of $26.141 billion.

Target raised its 2026 net sales growth outlook to approximately 5% and expects an operating margin of around 6%. The margin forecast includes a benefit of about 90 basis points from second-quarter tariff refunds.

The company lifted its sales guidance from $108.97 billion to $110.02 billion, above the analyst estimate of $109.10 billion.

Target raised its GAAP and adjusted earnings per share guidance from $7.50-$8.50 to $9.90-$10.90. The GAAP outlook is above the analyst estimate of $8.39, and the adjusted EPS forecast also exceeds the $8.50 expectation.

Target shares rose 0.2% on Thursday, trading at $159.40.

Analysts Adjust Price Targets

Guggenheim analyst John Heinbockel maintained a Buy rating and raised the price target from $150 to $175.

RBC Capital analyst Steven Shemesh maintained an Outperform rating and raised the price target from $166 to $178.

DA Davidson analyst Michael Baker maintained a Buy rating and raised the price target from $170 to $185.

TD Cowen analyst Oliver Chen maintained a Hold rating and raised the price target from $155 to $160.

Evercore ISI Group analyst Greg Melich maintained an In-Line rating and raised the price target from $150 to $170.

Wells Fargo analyst Edward Kelly maintained an Overweight rating and raised the price target from $165 to $185.

Piper Sandler analyst Peter Keith maintained a Neutral rating and raised the price target from $146 to $153.

Considering buying TGT stock? Here's what analysts think.