Target "accumulate," estimates raised

01.03.06 - Jyske Bank

NEW YORK, March 1 (newratings.com) - Analyst Christian Nagstrup of Jyske Bank maintains his "accumulate" rating on Target (TGT). The 12-month target price is set to $61.

In a research note published this morning, the analyst mentions that the company has posted its Q4 sales and EPS ahead of the consensus. Target's quarterly results were bolstered by the performance of the credit card business, the analyst adds. The company has guided to sales growth and earnings growth guidance 2006 at 10%-13% and 14%-16%, respectively.