Street View: Target tunes up playbook to drive sales growth

Target's TGT.N new CEO, Michael Fiddelke, pledged to restore annual sales growth, betting on a plan to spend billions to remodel stores, improve the customer shopping experience, and speed up deliveries to turn around the struggling retailer

Co posted Q4 EPS of $2.44, beating estimates of $2.16

Median PT of 40 brokerages covering the stock is $119 - LSEG-compiled data

A TURNAROUND IN THE CART

D.A. Davidson ("buy," PT: $120) says that view has changed, as TGT’s analyst day showcased a slew of changes being implemented by CEO Mike Fiddelke in an aggressive timeframe

Jefferies ("buy," PT: $140) says looking ahead, better merchandise and increased tech investments should help drive growth

Oppenheimer ("outperform," PT: $140) says co has shown a greater sense of urgency and outlined aggressive plans to return to growth through a range of merchandising efforts and initiatives to improve the customer experience

Morningstar (fair value: $118) says although near‑term economic pressures persist, TGT's efforts to broaden its assortment and improve shopping experience could help it return to low single‑digit sales growth over the longer term