Target Shares Down 30% This Week, Q1 Results Review
<p><a href='https://financialmodelingprep.com/financial-summary/TGT'>Target (NYSE:TGT) </a>shares lost almost 30% this week as a result of reported disappointing Q1 results, with EPS of $2.19 missing the street estimate of $3.07. Revenue came in at $24.83 billion, compared to the Street estimate of $24.47 billion. For full-year 2022, the company anticipates revenue growth in the low-to mid-single digits.</p>
<p>RBC Capital analysts provided their views on the company, lowering their estimates and price target, but believing the stock sell-off is overdone.</p>
<p>Similar to Walmart, Target beat on comp, but experienced significant margin contraction year-over-year. While lingering cost headwinds and increased uncertainty around the financial health of the US consumer warrant numbers coming down, the analysts remain of the view that the company is structurally a faster growing, higher margin business post-strategic reset. As such the analysts thinks the company would weather any potential economic downturn better than they have historically.</p>
<p>The analysts lowered 2022/2023 EPS estimates to $10.57/$13.27 from $14.59/$15.84, and moved their target to $239 from $294 while maintaining the outperform rating.</p>

NYSE:TGT