Target price target raised to $200 from $160 at Argus

Argus analyst Christopher Graja raised the firm’s price target on Target to $200 from $160 and keeps a Buy rating on the shares after its Q4 earnings beat last week. The company remains very relevant to its customers as a place where they can get food and staples at good prices, and budget-friendly clothing and home goods, the analyst tells investors in a research note. The firm is also raising its FY25 EPS estimate to $9.35 from $9.00 while citing Target management’s new growth initiatives, including expanding its membership programs to build customer loyalty, expanding its offering of proprietary brands, building more than 300 new stores over the next decade and remodel almost 2,000 existing stores, and also opening at least 10 new distribution facilities.