Target’s Q1 Recovery Spurs UBS $144 PT, Guggenheim Lifts to $145
TGT•UBS reiterated a Buy rating on Target with a $144 price target after Q1 comparable sales recovered across demographics, lifting the stock 1.97% intraday following a 38% year-to-date gain. Guggenheim raised its price target to $145 from $140 and Target increased its quarterly dividend by 1.8% to $1.16.
1. Analyst Ratings and Price Targets
UBS reiterated a Buy rating on Target with a $144 price target, noting shares rose 1.97% intraday following a year-to-date gain of 38%. Guggenheim raised its price target to $145 from $140, while Truist Securities and Piper Sandler held targets at $130 and $127, citing valuation and sustainability concerns.
2. Q1 Sales Recovery and Dividend Increase
Target reported that first-quarter comparable sales recovered across demographics, income levels, regions and age groups, supporting UBS’s positive outlook. The company also boosted its quarterly dividend by 1.8% to $1.16 per share and is advancing a design-led strategy in categories like Fun 101, Health & Wellness, Baby and Food.
3. Annual Meeting Voting Outcomes
At its June 10 Annual Meeting, Target shareholders elected all 12 director nominees with support ranging from 87.2% to 99.1%, ratified Ernst & Young as auditor, approved advisory Say on Pay (89.0% For) and a long-term incentive plan (95.0% For), and rejected proposals on an independent board chair, pesticide reporting and microfiber shedding.
