Target Price Raised to $105 by Evercore, New CEO Fiddelke Receives $12.1m Awards
Evercore ISI raised its price target on Target Corporation to $105 from $103, maintaining an In Line rating. On Feb. 1 Michael J. Fiddelke became CEO with a $1.3 million base salary and $12.1 million in stock awards, and Brian Cornell shifted to Executive Chair with a $6 million RSU grant.
1. Evercore Raises Price Target to $105
On February 17, Evercore ISI raised its price target on Target Corporation to $105 from $103 and maintained its In Line rating, signaling a modest upward revision to analysts’ outlook for the retailer’s performance.
2. Leadership Transition and Executive Packages
On February 1, Michael J. Fiddelke assumed the role of CEO with a $1.30 million base salary, a target cash incentive equal to 200% of salary and $12.1 million in stock awards, while former CEO Brian Cornell became Executive Chair with a $1.12 million base salary, a 200% incentive opportunity and a $6 million restricted stock unit grant through March 13, 2027.