Target: Aiming Lower

Mar. 18, 2023 2:33 AM ETTarget Corporation (TGT)6 Comments
Gary Gambino profile picture
Gary Gambino


  • 2022 revealed that much of the massive growth that Target delivered over the prior 2 years came from a temporary shift in consumer behavior.
  • Target is now aiming for 6 percent operating margin by around 2024, down from the 8 percent expected a year ago.
  • 2023 looks to be a recovery year with minimal comp sales growth. The stock looks fairly valued on 2024 earnings if the retailer can hit the 6% operating margin goal.
Arrows going to target


More Help From The Market Than Previously Believed

A year ago, Target Corp. (NYSE:TGT) was coming off of two strong years of growth during the covid-influenced period of 2020-2021. The share price doubled during this time frame without having

This article was written by

Gary Gambino profile picture
I am a Chemical Engineer by training and have an MBA with concentrations in Finance and Operations Management. I retired early after 22 years in the energy industry with roles in engineering, planning, and financial analysis. I have managed my own portfolio since 1998 and have met my goal to match the S+P 500 return over the long term with lower volatility and higher income yield. I plan to focus my writing on positions I already hold or am considering changing, however my bias is toward long-term holding unless there is a very compelling reason to sell.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TGT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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