Target "outperform," estimates raised

20.02.06 - Piper Jaffray

NEW YORK, February 20 (newratings.com) - Analysts at Piper Jaffray reiterate their "outperform" rating on Target Corporation (TGT), while raising their estimates for the company. The target price is set to $62.

In a research note published on February 17, the analysts mention that the company is expected to continue to gain market share due to its commitment to providing innovative apparel, toys, home furnishings and electronics. Target is effectively customizing its in-store assortment and offer discounts in accordance with the demographic profile, the analysts add. The EPS estimates of 2006 and 2007 have been raised from $3.10 to $3.11 and from $3.59 to $3.60, respectively.