Target Gets Price Target Lift to $91, Plans Seven New Stores and Removes Dyes
Bernstein increased its price target on Target to $91 from $80, keeping an Underperform rating ahead of CEO Michael Fiddelke’s investor meeting in Minneapolis. Target also plans to open seven stores this spring—five larger than 125,000 sq ft—and remove synthetic dyes from all cereals by end of May.
1. Bernstein Raises Price Target
Bernstein raised its price target on Target to $91 from $80 while retaining an Underperform rating, citing expectations for a more detailed strategic outlook under new CEO Michael Fiddelke.
2. Upcoming Investor Meeting
Target will report Q4 results on March 3 and host its first investor meeting led by Fiddelke in Minneapolis, where management plans to outline clearer strategic priorities and growth initiatives.
3. Spring Store Expansion
This spring, Target plans to open seven new stores across California, Missouri, New Jersey, North Carolina and Texas, with five locations exceeding the company’s 125,000 sq ft average as part of a goal to launch over 30 stores this year.
4. Cereal Dye Removal Initiative
By the end of May, Target will eliminate all certified synthetic colors from its cereal aisle, collaborating with national brands and private-label partners to reformulate products in response to rising demand for cleaner-label foods.