Bank of America Raises Target Price Target Ahead of Earnings
Bank of America has updated its price target for Target Corporation stock ahead of the retailer's upcoming earnings report scheduled for May 20, 2026. This adjustment follows a period of strategic restructuring under new CEO Michael Fiddelke, who initiated a $5 billion "New Chapter" overhaul to improve store layouts and fulfillment services. Target is working to recover from previous consumer boycotts related to its Pride collection and DEI initiatives, which contributed to a 1.7% decline in net sales for full-year 2025. Despite these challenges, Target shares have risen 24.28% year-to-date, supported by improving monthly foot traffic data from Placer.ai. The company projects approximately 2% net sales growth for 2026, driven by comparable sales increases and new store contributions. Additionally, Target anticipates a slight improvement in operating income margins and flat to slightly increased earnings per share for the first quarter. Analysts are closely watching how recent operational changes and expanded product offerings, such as hemp-derived THC beverages, will impact future financial performance.
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