Truist Financial Lowers PT on Target Corporation from $107 to $102, Keeps Neutral Rating

Target Corporation (NYSE:TGT) is one of the 10 Best Grocery Stocks to Buy According to Hedge Funds. On August 21, Truist Financial lowered the price target on Target Corporation (NYSE:TGT) from $107 to $102, keeping its Neutral rating on the stock.

Scot Ciccarelli from Truist downgraded the price on TGT following the second quarter FY2025 results. The analyst mentioned that the retailer’s Q2 sales performed slightly better than initially expected, while earnings were in line with previously reset expectations from Q1. Target posted revenue of $25.21 billion, exceeding consensus by $306.39 million. Ciccarelli highlighted that Target is currently benefiting from shrinkage reductions, but these benefits are expected to vanish in 2026.

The analyst pointed out the challenges faced by Target, including declining market share and a focus on cost-cutting measures to support EBIT. Moreover, the company’s new CEO, Michael Fiddelke, is scheduled to take over on February 1, 2026. With this transition, the company signaled that it is rethinking how stores handle fulfillment, a strategic move to overcome challenges and gain fresh momentum.

As of August 27, Target Corporation’s (NYSE:TGT) average price target of $100, based on analysts’ estimates, implies an upside of nearly 2.08% from current levels.

Target Corporation (NYSE:TGT) is a diversified company and gains a major share of its sales from food and beverages. The retailer sells products through its stores and digital channels.

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Disclosure: None. This article is originally published at Insider Monkey.