HSBC upgrades Target to Buy, raises PT to $190 (TGT:NYSE)

HSBC upgraded Target (TGT) to buy, raising its price target to $190 from $125, citing a traffic-led recovery. Q2 results showed comparable sales up 3.8%, with profits exceeding expectations. Beauty, food, and back-to-school apparel led growth. HSBC expects Target to surpass forecasts, with a potential $994M tariff refund. Target shares have risen 62% YTD.

HSBC upgraded Target (TGT) to Buy, raising its price target to $190 from $125, citing earnings recovery potential and stronger traffic. The new target is based on an 18x multiple applied to revised FY2027 EPS estimate of $10.61. Target's stock has returned 81% over the past year. Other analysts have also revised earnings upwards, with consensus FY2027 EPS estimates at $10.51. Risks include uneven recovery in certain categories and continued weakness in consumer spending.

HSBC upgraded Target (TGT) to Buy from Hold, raising its price target to $190 from $125. The move follows Target's Q2 results, which showed a 3.8% increase in comparable sales and EPS above market expectations, excluding a $994 million tariff-refund benefit. HSBC cited stronger customer activity and improved store traffic as key factors. The bank now expects fiscal 2027 EPS of $10.61, up from $8.26.

HSBC upgraded Target (TGT) to buy, raising its price target to $190, citing strong Q2 sales and a positive outlook. Analyst Joe Thomas noted 3.8% comparable sales growth and consistent performance across income demographics. Target's stock is up 62% YTD, with most analysts holding a neutral view.

HSBC upgraded Target (TGT) to Buy from Hold, raising its price target to $190 from $125. The bank cited momentum in Target's turnaround, with Q2 comparable sales up 3.8% and EPS ahead of consensus. HSBC increased its FY27 EPS estimate to $10.61, suggesting further upside potential.

HSBC upgraded Target to Buy and raised its price target to $190 from $125, citing improving store traffic. Q2 results showed 3.8% comparable sales growth, 2.7% store-originated sales growth, and profits 5% above consensus. HSBC expects earnings to exceed forecasts and sees shares as inexpensive.