Target Downgraded at Jefferies (TGT)

Target Downgraded at Jefferies (TGT)


Jefferies & Co. announced on Wednesday that they have lowered their rating on on discount retailer, Target Corporation(TGT).

The firm reported that they have downgraded TGT from a “Buy” to a “Hold,” and have decreased its price target from $74 to $59. This price target suggests a slight decline from the stock’s current price of $59.30.

An analyst from the firm commented, “while we had high hopes for Target this season, we believe the company continued to struggle in a few areas, including poor online execution, soft December sales, poor results with the Neiman Marcus merchandising initiative, increased price competition (greater price matching), and more markdowns y-y. Tough comparisons loom in Q1, so shares may stay in a narrow range,” the analyst comments.

Target shares were mostly flat during premarket trading Wednesday. The stock has increased 15.5% in the past year.

The Bottom Line
Shares of Target Corporation (TGT) have a 2.43% dividend yield, based on Monday’s closing stock price of $59.17. The stock has technical support in the $54-$56 price area. If the shares can firm up, we see overhead resistance around the $62-$64 price levels.

Target Corporation(TGT) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today