Analyst Consensus ?
ConsensusHold58 ratings
Bullish2746.6%
Neutral2746.5%
Bearish46.9%
1 unmapped firm rating excluded from the percentages.
Target Corporation · TGT · FY2026 Q1 · Calendar Q2 2026
Target Q1 FY2026: Sales Beat, Guidance Raised as Beauty and Food Refreshes Drive Traffic
Target delivered a convincing first-quarter acceleration, with net sales up 6.7% and comparable sales up 5.6% on 4.4% traffic growth -- well ahead of the roughly 2% full-year target set at its March financial community meeting. EPS of $1.71 beat consensus by 16%. The beat was broad-based, driven by a merchandising refresh that added thousands of new items across food, wellness, and baby, producing double-digit category growth. Management raised full-year guidance to approximately 4% net-sales growth. Despite the strong quarter, shares fell 4.9% on the report, likely reflecting cost-headwind questions around SG&A and freight, before recovering with a 6.9% drift over the following weeks. The stock now trades at $146.87, above the analyst consensus target of $137.05.
Reported Before market openNYSEConsumer Defensive
$65.49B market cap
100quality score
Company context
Snapshot as of publicationTarget Corp. engages in the operation and ownership of general merchandise stores. It offers food and general merchandise, clothing and household goods, electronics, and toys. Its brands include A New Day, All in Motion, Art Class, Auden, AVA & VIV, Boots and Barkley, Brightroom, Bullseye's Playground, Casaluna, Cat & Jack, Cloud Island, Colsie, dealworthy, Embark, Everspring, Favorite Day, Figmint, Future Collective, Gigglescape, Good & Gather, Goodfellow & Co, Hearth & Hand with Magnolia, Heyday, Hyde & EEK! Boutique, JoyLab, Kindfull, Kona Sol, Made By Design, Market Pantry, Mondo Llama, More Than Magic, Opalhouse, Open Story, Original Use, Pillowfort, Project 62, Room Essentials, Shade & Shore, Smartly, Smith & Hawken, Sonia Kashuk, Spritz, Sun Squad, Threshold, Universal Thread, up&up, Wild Fable, Wondershop, Xhilaration, California Roots, Casa Cantina, The Collection, Headliner, Jingle & Mingle, Rosé Bae, Photograph, SunPop, and Wine Cube. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
Earnings scorecard
Reported versus consensus
Reported EPS
$1.71
Consensus $1
EPS surprise
+16.3%
Reported versus consensus
Reported revenue
$25.44B
Consensus $24.66B
Revenue surprise
+3.2%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$145.9Current
$80Low
$155.27Average
$320High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | In Line | Maintain | Jul 21, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 20, 2026 |
| Jefferies | Buy | Buy | Maintain | Jun 26, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jun 23, 2026 |
| Truist Securities | Hold | Hold | Maintain | May 21, 2026 |
| Telsey Advisory Group | Outperform | Outperform | Maintain | May 21, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | May 21, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | May 21, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | May 21, 2026 |
| DA Davidson | Buy | Buy | Maintain | May 21, 2026 |
| Baird | Neutral | Neutral | Maintain | May 21, 2026 |
| Freedom Broker | Hold | Buy | Downgrade | May 20, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | May 15, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 12, 2026 |
| Barclays | Underweight | Underweight | Maintain | May 12, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 6, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Mar 5, 2026 |
| UBS | Buy | Buy | Maintain | Mar 4, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Mar 4, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Mar 4, 2026 |
| BNP Paribas | Underperform | Underperform | Maintain | Mar 4, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Mar 4, 2026 |
| Bernstein | Market Perform | Underperform | Upgrade | Mar 4, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Mar 4, 2026 |
| Argus Research | Buy | Buy | Maintain | Dec 1, 2025 |
| TD Cowen | Hold | Hold | Maintain | Nov 20, 2025 |
| Roth Capital | Neutral | Neutral | Maintain | Nov 20, 2025 |
| Stifel | Hold | Hold | Maintain | Mar 20, 2025 |
| Roth MKM | Neutral | Neutral | Maintain | Mar 5, 2025 |
| Daiwa Capital | Neutral | Outperform | Downgrade | Nov 26, 2024 |
| Deutsche Bank | Hold | Buy | Downgrade | Nov 20, 2024 |
| Tigress Financial | Buy | Buy | Maintain | Mar 27, 2024 |
| HSBC | Buy | Hold | Upgrade | Mar 6, 2024 |
| Gordon Haskett | Buy | Hold | Upgrade | Feb 7, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Aug 9, 2023 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Jul 26, 2023 |
| Keybanc | Overweight | Downgrade | Jun 5, 2023 | |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 15, 2023 |
| Cleveland Research | Neutral | Buy | Downgrade | Dec 12, 2022 |
| MKM Partners | Neutral | Neutral | Maintain | May 19, 2022 |
| Nomura Instinet | Buy | Buy | Maintain | May 21, 2020 |
| Nomura | Buy | Buy | Maintain | May 21, 2020 |
| CFRA | Hold | Hold | Maintain | May 20, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Mar 4, 2020 |
| Odeon Capital | Buy | Buy | Maintain | Jan 24, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Nov 21, 2019 |
| Buckingham | Buy | Buy | Maintain | Nov 21, 2019 |
| Bank of America | Buy | Buy | Maintain | Nov 21, 2019 |
| Standpoint Research | Buy | Hold | Upgrade | Dec 26, 2018 |
| Susquehanna | Positive | Neutral | Upgrade | Jan 10, 2018 |
| Moffett Nathanson | Neutral | Neutral | Maintain | Dec 4, 2017 |
| Macquarie | Outperform | Outperform | Maintain | Jun 9, 2015 |
| Sterne Agee | Neutral | Neutral | Maintain | Feb 24, 2014 |
| ISI Group | Buy | Buy | Maintain | Oct 24, 2013 |
| Pacific Crest | Outperform | Outperform | Maintain | Sep 27, 2013 |
| William Blair | Underperform | Market Perform | Downgrade | Aug 22, 2013 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Aug 22, 2013 |
| Janney Capital | Neutral | Buy | Downgrade | Aug 22, 2013 |
| PiperJaffray | Overweight | Overweight | Maintain | Feb 25, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $145.9. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Analyst unavailable | $150 | $139.62 | +2.8% | Jul 20, 2026 |
| Jefferies | Analyst unavailable | $161 | $140.79 | +10.3% | Jun 26, 2026 |
| Wolfe Research | Spencer Hanus | $162 | $129.76 | +11.0% | Jun 23, 2026 |
| Guggenheim | Analyst unavailable | $145 | $132.64 | -0.6% | Jun 12, 2026 |
| Argus Research | Analyst unavailable | $150 | $126.16 | +2.8% | May 22, 2026 |
| Roth Capital | Analyst unavailable | $114 | $126.61 | -21.9% | May 22, 2026 |
| D.A. Davidson | Michael Baker | $155 | $126.19 | +6.2% | May 22, 2026 |
| Telsey Advisory | Analyst unavailable | $150 | $122.16 | +2.8% | May 21, 2026 |
| Bernstein | Zhihan Ma | $124 | $121.87 | -15.0% | May 21, 2026 |
| RBC Capital | Analyst unavailable | $153 | $119.28 | +4.9% | May 21, 2026 |
| Piper Sandler | Analyst unavailable | $127 | $122.33 | -13.0% | May 21, 2026 |
| Goldman Sachs | Kate McShane | $127 | $122.33 | -13.0% | May 21, 2026 |
| Robert W. Baird | Analyst unavailable | $135 | $122.33 | -7.5% | May 21, 2026 |
| Truist Financial | Scot Ciccarelli | $130 | $122.33 | -10.9% | May 20, 2026 |
| Guggenheim | John Heinbockel | $140 | $127.27 | -4.0% | May 20, 2026 |
| Evercore ISI | Greg Melich | $130 | $122.91 | -10.9% | May 18, 2026 |
| Telsey Advisory | Analyst unavailable | $148 | $121.52 | +1.4% | May 15, 2026 |
| Deutsche Bank | Krisztina Katai | $123 | $122.37 | -15.7% | May 15, 2026 |
| Piper Sandler | Analyst unavailable | $121 | $123.08 | -17.1% | May 15, 2026 |
| Truist Financial | Analyst unavailable | $123 | $119.42 | -15.7% | May 13, 2026 |
| Wells Fargo | Analyst unavailable | $140 | $118.44 | -4.0% | May 12, 2026 |
| Barclays | Seth Sigman | $115 | $118.44 | -21.2% | May 12, 2026 |
| RBC Capital | Steven Shemesh | $132 | $125.91 | -9.5% | May 8, 2026 |
| Evercore ISI | Analyst unavailable | $125 | $132.27 | -14.3% | Apr 21, 2026 |
| D.A. Davidson | Michael Baker | $140 | $120.14 | -4.0% | Mar 9, 2026 |
| Mizuho Securities | David Belinger | $120 | $119.9 | -17.8% | Mar 5, 2026 |
| Morgan Stanley | Simeon Gutman | $145 | $122.64 | -0.6% | Mar 4, 2026 |
| Piper Sandler | Peter Keith | $119 | $122.87 | -18.4% | Mar 4, 2026 |
| RBC Capital | Steven Shemesh | $130 | $122.72 | -10.9% | Mar 4, 2026 |
| Bernstein | Zhihan Ma | $116 | $120.8 | -20.5% | Mar 4, 2026 |
| Truist Financial | Scot Ciccarelli | $121 | $120.8 | -17.1% | Mar 3, 2026 |
| UBS | Michael Lasser | $130 | $114 | -10.9% | Feb 23, 2026 |
| Piper Sandler | Peter Keith | $102 | $116.69 | -30.1% | Feb 23, 2026 |
| Evercore ISI | Analyst unavailable | $105 | $115.76 | -28.0% | Feb 17, 2026 |
| Guggenheim | Analyst unavailable | $125 | $115.76 | -14.3% | Feb 17, 2026 |
| Evercore ISI | Analyst unavailable | $103 | $115.11 | -29.4% | Feb 10, 2026 |
| Morgan Stanley | Analyst unavailable | $125 | $109.82 | -14.3% | Jan 15, 2026 |
| D.A. Davidson | Michael Baker | $120 | $106.37 | -17.8% | Jan 12, 2026 |
| Deutsche Bank | Analyst unavailable | $108 | $106.85 | -26.0% | Jan 8, 2026 |
| Wolfe Research | Spencer Hanus | $81 | $98.1 | -44.5% | Dec 30, 2025 |
| Jefferies | Corey Tarlowe | $115 | $98.6 | -21.2% | Dec 18, 2025 |
| Evercore ISI | Greg Melich | $95 | $93.06 | -34.9% | Dec 9, 2025 |
| RBC Capital | Steven Shemesh | $99 | $85.98 | -32.1% | Nov 20, 2025 |
| Robert W. Baird | Analyst unavailable | $92 | $86.16 | -36.9% | Nov 20, 2025 |
| Evercore ISI | Analyst unavailable | $100 | $86.08 | -31.5% | Nov 20, 2025 |
| Roth Capital | Analyst unavailable | $88 | $86.08 | -39.7% | Nov 20, 2025 |
| BMO Capital | Kelly Bania | $90 | $85.45 | -38.3% | Nov 20, 2025 |
| Piper Sandler | Peter Keith | $85 | $86.08 | -41.7% | Nov 20, 2025 |
| Bernstein | Zhihan Ma | $80 | $86.08 | -45.2% | Nov 20, 2025 |
| Guggenheim | John Heinbockel | $115 | $97.47 | -21.2% | Oct 27, 2025 |
| D.A. Davidson | Analyst unavailable | $108 | $85.53 | -26.0% | Oct 13, 2025 |
| Truist Financial | Analyst unavailable | $83 | $89.14 | -43.1% | Oct 2, 2025 |
| Wolfe Research | Analyst unavailable | $80 | $88.93 | -45.2% | Sep 17, 2025 |
| Truist Financial | Scot Ciccarelli | $107 | $104.74 | -26.7% | Aug 13, 2025 |
| Loop Capital Markets | Justin Patterson | $95 | $103.65 | -34.9% | Jul 17, 2025 |
| Piper Sandler | Peter Keith | $94 | $95.06 | -35.6% | May 22, 2025 |
| Robert W. Baird | Peter Benedict | $100 | $95.06 | -31.5% | May 22, 2025 |
| Telsey Advisory | Joseph Feldman | $110 | $93.01 | -24.6% | May 21, 2025 |
| Raymond James | Josh Beck | $195 | $93.79 | +33.7% | Apr 21, 2025 |
| Oppenheimer | Analyst unavailable | $150 | $114.05 | +2.8% | Mar 6, 2025 |
| Roth Capital | Analyst unavailable | $122 | $116.56 | -16.4% | Mar 5, 2025 |
| Wells Fargo | Analyst unavailable | $135 | $116.56 | -7.5% | Mar 5, 2025 |
| KGI Securities | Analyst unavailable | $132 | $116.56 | -9.5% | Mar 5, 2025 |
| Jefferies | Analyst unavailable | $150 | $117.14 | +2.8% | Mar 4, 2025 |
| Evercore ISI | Analyst unavailable | $135 | $120.76 | -7.5% | Mar 3, 2025 |
| BMO Capital | Kelly Bania | $120 | $121.59 | -17.8% | Nov 21, 2024 |
| Stifel Nicolaus | Mark Astrachan | $137 | $121.72 | -6.1% | Nov 20, 2024 |
| Bernstein | Zhihan Ma | $168 | $150.91 | +15.1% | Oct 21, 2024 |
| Jefferies | Corey Tarlowe | $195 | $154.7 | +33.7% | Sep 20, 2024 |
| Daiwa | Kahori Tamada | $170 | $158.5 | +16.5% | Aug 24, 2024 |
| UBS | Michael Lasser | $200 | $159.25 | +37.1% | Aug 22, 2024 |
| RBC Capital | Steven Shemesh | $177 | $159.25 | +21.3% | Aug 22, 2024 |
| Wells Fargo | Edward Kelly | $180 | $159.25 | +23.4% | Aug 22, 2024 |
| BMO Capital | Kelly Bania | $145 | $163.32 | -0.6% | Aug 21, 2024 |
| Goldman Sachs | Kate McShane | $191 | $163.34 | +30.9% | Aug 21, 2024 |
| Morgan Stanley | Simeon Gutman | $180 | $163.15 | +23.4% | Aug 21, 2024 |
| Citigroup | Paul Lejuez | $180 | $163.5 | +23.4% | Aug 21, 2024 |
| Jefferies | Corey Tarlowe | $190 | $163.8 | +30.2% | Aug 21, 2024 |
| Truist Financial | Scot Ciccarelli | $156 | $163.72 | +6.9% | Aug 21, 2024 |
| Stifel Nicolaus | Mark Astrachan | $147 | $163.88 | +0.8% | Aug 21, 2024 |
| Telsey Advisory | Joseph Feldman | $190 | $144.04 | +30.2% | Aug 17, 2024 |
| Oppenheimer | Rupesh Parikh | $180 | $136.66 | +23.4% | Aug 14, 2024 |
| Wells Fargo | Edward Kelly | $160 | $133.85 | +9.7% | Aug 7, 2024 |
| CFRA | Arun Sundaram | $176 | $148.95 | +20.6% | Jul 25, 2024 |
| Piper Sandler | Peter Keith | $156 | $149.6 | +6.9% | Jul 11, 2024 |
| Deutsche Bank | Paul Trussell | $190 | $142.7 | +30.2% | May 23, 2024 |
| BMO Capital | Kelly Bania | $155 | $142.82 | +6.2% | May 23, 2024 |
| Truist Financial | Scot Ciccarelli | $153 | $142.94 | +4.9% | May 23, 2024 |
| UBS | Michael Lasser | $185 | $143.27 | +26.8% | May 23, 2024 |
| RBC Capital | Steven Shemesh | $181 | $143.27 | +24.1% | May 23, 2024 |
| Robert W. Baird | Peter Benedict | $190 | $143.27 | +30.2% | May 22, 2024 |
| Stifel Nicolaus | Mark Astrachan | $170 | $143.27 | +16.5% | May 22, 2024 |
| D.A. Davidson | Michael Baker | $190 | $143.27 | +30.2% | May 22, 2024 |
| Wells Fargo | Edward Kelly | $175 | $143.19 | +19.9% | May 22, 2024 |
| CFRA | Arun Sundaram | $160 | $143.27 | +9.7% | May 22, 2024 |
| Goldman Sachs | Kate McShane | $194 | $144.01 | +33.0% | May 22, 2024 |
| Telsey Advisory | Joseph Feldman | $195 | $143.98 | +33.7% | May 22, 2024 |
| BMO Capital | Kelly Bania | $170 | $143.96 | +16.5% | May 22, 2024 |
| Stifel Nicolaus | Mark Astrachan | $177 | $143.95 | +21.3% | May 22, 2024 |
| Barclays | Seth Sigman | $169 | $155.57 | +15.8% | May 21, 2024 |
| Jefferies | Corey Tarlowe | $205 | $177.21 | +40.5% | Apr 1, 2024 |
| Deutsche Bank | Paul Trussell | $206 | $173.54 | +41.2% | Mar 6, 2024 |
| HSBC | Daniela Bretthauer | $195 | $173.54 | +33.7% | Mar 6, 2024 |
| Goldman Sachs | Kate McShane | $176 | $168.22 | +20.6% | Mar 5, 2024 |
| Stifel Nicolaus | Mark Astrachan | $153 | $150.49 | +4.9% | Mar 5, 2024 |
| Gordon Haskett Capital Corporation | Chuck Grom | $170 | $144.43 | +16.5% | Feb 7, 2024 |
| Citigroup | Paul Lejuez | $142 | $139.2 | -2.7% | Jan 25, 2024 |
| Morgan Stanley | Simeon Gutman | $165 | $141.07 | +13.1% | Jan 16, 2024 |
| Piper Sandler | Edward Yruma | $180 | $140.23 | +23.4% | Dec 22, 2023 |
| J.P. Morgan | Christopher Horvers | $125 | $129.65 | -14.3% | Nov 21, 2023 |
| Roth Capital | William Kirk | $140 | $129.57 | -4.0% | Nov 16, 2023 |
| Wells Fargo | Edward Kelly | $148 | $130.46 | +1.4% | Nov 15, 2023 |
| Telsey Advisory | Joseph Feldman | $145 | $131.22 | -0.6% | Nov 15, 2023 |
| Truist Financial | Scot Ciccarelli | $116 | $110.79 | -20.5% | Nov 15, 2023 |
| Morgan Stanley | Simeon Gutman | $170 | $129.05 | +16.5% | Aug 17, 2023 |
| Goldman Sachs | Kate McShane | $135 | $128.75 | -7.5% | Aug 17, 2023 |
| Piper Sandler | Edward Yruma | $185 | $125.05 | +26.8% | Aug 16, 2023 |
| Oppenheimer | Rupesh Parikh | $165 | $133.94 | +13.1% | Aug 1, 2023 |
| RBC Capital | Steven Shemesh | $191 | $153.87 | +30.9% | May 18, 2023 |
| Loop Capital Markets | Bradley Thomas | $180 | $155.19 | +23.4% | May 18, 2023 |
| Credit Suisse | Karen Short | $170 | $160.57 | +16.5% | May 15, 2023 |
| Loop Capital Markets | Kelly Bania | $165 | $162.4 | +13.1% | Mar 1, 2023 |
| Stifel Nicolaus | Mark Astrachan | $175 | $143.25 | +19.9% | Dec 20, 2022 |
| Telsey Advisory | Analyst unavailable | $175 | $155.47 | +19.9% | Nov 17, 2022 |
| Raymond James | Strong Buy | $80 | $157.23 | -45.2% | Oct 18, 2022 |
| RBC Capital | Steven Shemesh | $223 | $161.98 | +52.8% | Aug 23, 2022 |
| Loop Capital Markets | Kelly Bania | $190 | $173.05 | +30.2% | Aug 18, 2022 |
| Deutsche Bank | Analyst unavailable | $193 | $172.31 | +32.3% | Aug 18, 2022 |
| Truist Financial | Analyst unavailable | $165 | $171.83 | +13.1% | Aug 18, 2022 |
| Stifel Nicolaus | Analyst unavailable | $195 | $173.01 | +33.7% | Aug 18, 2022 |
| Goldman Sachs | Analyst unavailable | $205 | $175.34 | +40.5% | Aug 18, 2022 |
| Wells Fargo | Edward Kelly | $195 | $166.74 | +33.7% | Aug 1, 2022 |
| Tigress Financial | Analyst unavailable | $215 | $161.95 | +47.4% | Jul 29, 2022 |
| UBS | Michael Lasser | $205 | $149.67 | +40.5% | Jun 11, 2022 |
| Robert W. Baird | Robert Ohmes | $165 | $157.58 | +13.1% | Jun 8, 2022 |
| Morgan Stanley | Simeon Gutman | $190 | $155.95 | +30.2% | Jun 8, 2022 |
| Guggenheim | Analyst unavailable | $185 | $159.41 | +26.8% | Jun 8, 2022 |
| Deutsche Bank | Analyst unavailable | $198 | $155.98 | +35.7% | Jun 8, 2022 |
| Goldman Sachs | Analyst unavailable | $171 | $155.98 | +17.2% | Jun 8, 2022 |
| Citigroup | Analyst unavailable | $184 | $155.98 | +26.1% | Jun 8, 2022 |
| RBC Capital | Steven Shemesh | $231 | $155.98 | +58.3% | Jun 8, 2022 |
| RBC Capital | Steven Shemesh | $231 | $156.7 | +58.3% | Jun 8, 2022 |
| Deutsche Bank | Krisztina Katai | $198 | $156.7 | +35.7% | Jun 8, 2022 |
| Morgan Stanley | Simeon Gutman | $190 | $156.7 | +30.2% | Jun 8, 2022 |
| Truist Financial | Scot Ciccarelli | $150 | $155.98 | +2.8% | Jun 7, 2022 |
| Telsey Advisory | Joe Feldman | $185 | $155.98 | +26.8% | Jun 7, 2022 |
| J.P. Morgan | Christopher Horvers | $180 | $155.98 | +23.4% | Jun 7, 2022 |
| Robert W. Baird | Peter Benedict | $180 | $155.98 | +23.4% | Jun 7, 2022 |
| Telsey Advisory | Joe Feldman | $185 | $155.98 | +26.8% | Jun 7, 2022 |
| Stifel Nicolaus | Mark Astrachan | $185 | $155.98 | +26.8% | Jun 7, 2022 |
| Evercore ISI | Greg Melich | $180 | $155.98 | +23.4% | Jun 7, 2022 |
| D.A. Davidson | Michael Baker | $171 | $155.98 | +17.2% | Jun 7, 2022 |
| Wells Fargo | Edward Kelly | $155 | $155.98 | +6.2% | Jun 7, 2022 |
| Credit Suisse | Robert Moskow | $180 | $155.36 | +23.4% | May 23, 2022 |
| RBC Capital | Steven Shemesh | $239 | $153.43 | +63.8% | May 19, 2022 |
| D.A. Davidson | Analyst unavailable | $205 | $155.76 | +40.5% | May 19, 2022 |
| Goldman Sachs | Analyst unavailable | $191 | $155.38 | +30.9% | May 19, 2022 |
| Deutsche Bank | Analyst unavailable | $227 | $157.74 | +55.6% | May 19, 2022 |
| Raymond James | Analyst unavailable | $205 | $161.61 | +40.5% | May 19, 2022 |
| Cowen & Co. | Oliver Chen | $190 | $153.43 | +30.2% | May 19, 2022 |
| Stifel Nicolaus | Mark Astrachan | $185 | $161.61 | +26.8% | May 18, 2022 |
| Truist Financial | Scot Ciccarelli | $261 | $159.34 | +78.9% | May 18, 2022 |
| Stifel Nicolaus | Analyst unavailable | $270 | $217.14 | +85.1% | May 16, 2022 |
| Deutsche Bank | Krisztina Katai | $294 | $219.73 | +101.5% | May 16, 2022 |
| Barclays | Karen Short | $280 | $228.19 | +91.9% | Apr 7, 2022 |
| RBC Capital | Steven Shemesh | $294 | $224.9 | +101.5% | Mar 2, 2022 |
| MKM Partners | William Kirk | $253 | $224.9 | +73.4% | Mar 2, 2022 |
| Morgan Stanley | Simeon Gutman | $255 | $224.9 | +74.8% | Mar 2, 2022 |
| Deutsche Bank | Krisztina Katai | $353 | $219.43 | +141.9% | Mar 1, 2022 |
| Robert W. Baird | Peter Benedict | $275 | $219.43 | +88.5% | Mar 1, 2022 |
| J.P. Morgan | Christopher Horvers | $290 | $199.77 | +98.8% | Feb 28, 2022 |
| Wells Fargo | Edward Kelly | $230 | $210.38 | +57.6% | Feb 7, 2022 |
| RBC Capital | Steven Shemesh | $278 | $217.67 | +90.5% | Jan 30, 2022 |
| Citigroup | Paul Lejuez | $274 | $216.73 | +87.8% | Jan 28, 2022 |
| Truist Financial | Scot Ciccarelli | $270 | $221.4 | +85.1% | Jan 17, 2022 |
| Credit Suisse | Robert Moskow | $286 | $250.96 | +96.0% | Nov 18, 2021 |
| D.A. Davidson | Michael Baker | $293 | $250.96 | +100.8% | Nov 18, 2021 |
| Goldman Sachs | Kate McShane | $308 | $252.7 | +111.1% | Nov 17, 2021 |
| Stifel Nicolaus | Mark Astrachan | $280 | $252.7 | +91.9% | Nov 17, 2021 |
| Tigress Financial | Ivan Feinseth | $320 | $247.04 | +119.3% | Aug 26, 2021 |
| Telsey Advisory | Joe Feldman | $305 | $258.64 | +109.0% | Aug 13, 2021 |
| Argus Research | Chris Graja | $265 | $234.68 | +81.6% | Jun 23, 2021 |
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What changed
Between the March financial community meeting and this Q1 report, Target's narrative shifted from investing for growth to growth arriving. The prior period outlined $2 billion in incremental spending with guidance for ~2% sales growth and maintained sentiment. This quarter delivered 6.7% actual sales growth -- more than triple the prior guide -- and management raised the full-year target to ~4%. The capex plan expanded from a $1 billion annual figure to a $5 billion full-year commitment. The merchandising refresh moved from concept to measurable results, with 3,000 new food items, 1,500 wellness items, and 2,000 baby items generating double-digit growth in those categories. Limited-time partnerships with Parke, Roller Rabbit, Pokemon, and K-Pop/BTS produced record launch-week sales and social engagement.
Guidance delta
Full-year net-sales growth guidance was raised from approximately 2% (set at the March financial community meeting) to approximately 4%. Q1 EPS of $1.71 exceeded the $1.47 consensus by 16.3%. Management indicated next-quarter EPS is expected near the high end of the $0.75-$0.85 range. The full-year capex plan was lifted to $5 billion, with $1 billion already spent in Q1. Guidance sentiment moved from maintained to raised.
Key takeaways
- Q1 net sales rose 6.7% YoY with 5.6% comparable sales growth and a 4.4% traffic increase, easily clearing consensus.
- EPS of $1.71 beat the $1.47 estimate by 16.3%; revenue of $25.4B beat the $24.7B estimate by 3.2%.
- Merchandising refresh added 3,000 food, 1,500 wellness, and 2,000 baby items, producing double-digit growth in those categories.
- Full-year guidance raised to ~4% net-sales growth; near-term EPS expected near the high end of the $0.75-$0.85 range.
- Capex of $1B in Q1 toward a $5B full-year plan, funding 30+ new stores, 100+ remodels, and supply-chain capacity additions.
Management priorities
- Roll out Target Beauty Studios across 600+ stores as a new immersive beauty destination.
- Execute a major food assortment reset covering nearly half of center-store grocery items.
- Open more than 30 new stores in 2026 and complete 100+ remodel projects.
- Expand supply-chain capacity with a new receive center in Houston and a food distribution center in Colorado.
- Overhaul home decor and decorative accessories, with 75% of decorative accessories changed in Q2.
Sources
- Earnings call transcript and parsed analysis · 2026-05-20T15:21:49.175490+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T16:21:36.125924+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T16:21:36.122953+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.