Target’s Price Target Rises to $145; Plans $2B Remodel and Experience Upgrades
Argus raised its price target on Target to $145 from $125 and maintained a Buy rating after CEO Michael Fiddelke outlined plans to boost annual capital spending to $5 billion. Target will allocate $2 billion this year for store remodels, experience upgrades and anticipates 2% net sales growth in 2026.
1. Argus Increases Price Target and Rating
Argus raised its price target on Target to $145 from $125 and reiterated a Buy rating, reflecting analyst confidence in the company’s strategic direction under new leadership.
2. CEO Details Capital Spending Strategy
CEO Michael Fiddelke plans to raise annual capital spending to $5 billion, allocating over $2 billion this year to new stores, remodels and enhancements aimed at refining the guest experience and speeding up deliveries.
3. Merchandising Overhaul and Sales Outlook
Target will overhaul about 75% of its decorative accessories assortment, relaunch the Threshold home brand, speed up apparel cycles and open Target Beauty Studios in 600 stores, positioning the company to achieve approximately 2% net sales growth in 2026.