Target "neutral," target price reduced

16.05.06 - Robert W. Baird

NEW YORK, May 16 (newratings.com) - Analysts at Robert W Baird maintain their "neutral" rating on Target Corporation (TGT). The target price has been reduced from $63 to $60.

In a research note published this morning, the analysts mention that the company has reported its 1Q EPS short of the consensus. Target's results were adversely affected by margin pressure at the core retail business during the quarter, which more than offset the substantial contribution from the credit segment, the analysts say. The company has indicated that the consensus earnings expectations for 2Q are achievable.