Target "buy," estimates reduced

25.04.07 - UBS

NEW YORK, April 25 (newratings.com) - Analysts at UBS maintain their "buy" rating on Target Corporation (TGT), while reducing their estimates for the company. The target price is set to $78.

In a research note published yesterday, the analysts mention that the company has reduced its March-April comps growth guidance from +4%-6% to +3%-4%. April was expected to be a challenging month for Target due to the Easter calendar shift and tough y/y comparisons, the analysts say. The EPS estimate for 1Q has been reduced from $0.73 to $0.72.