-- Target (TGT) has the potential to beat analyst expectations and deliver positive comparable sales growth in Q1 for the first time since Q4 2024, Oppenheimer said in a note Tuesday.
Analysts said the company has delivered a "clear improvement" in store execution and merchandising lately as part of turnaround efforts, and investors are set to focus on management's efforts to sustain momentum.
The company is scheduled to report Q1 financial results on May 20. Oppenheimer said that amid a more uncertain consumer spending backdrop with higher fuel costs, the company is expected to reaffirm its 2026 targets.
Target's valuation is "accommodative, but no longer depressed" at current levels, according to the note.
Oppenheimer has an outperform rating on the stock and a $140 price target.
Price: $127.95, Change: $+0.19, Percent Change: +0.15%