Target Raises Price Target to $120, Unveils $5B Plan for 30 Stores
Mizuho raised its price target on Target to $120 from $100 after the retailer’s investor day, citing a credible path to profitable growth. The company outlined plans for over 30 new stores in 2026—including its 2,000th location in Fuquay-Varina, North Carolina—and a $5 billion capital investment plan.
1. Analyst Upgrade and Price Target Increase
Mizuho raised its price target on Target to $120 from $100 and maintained a Neutral rating after evaluating the retailer’s investor day as a positive catalyst. The firm highlighted a credible path back to profitable growth based on management’s outlined strategy.
2. Store Expansion Plans
Target plans to open more than 30 new stores in 2026, including its milestone 2,000th location in Fuquay-Varina, North Carolina, with seven stores scheduled to open this March. The retailer aims to expand its network to over 300 additional stores by 2035 as part of its long-term growth strategy.
3. Capital Investment and Operational Improvements
A $5 billion capital investment plan for 2026 will fund store remodels, technology upgrades for faster order fulfillment and improved in-store experiences. The company will also allocate hundreds of millions for store payroll increases and comprehensive employee training to enhance guest service.