Yesterday’s Analyst’s Downgrade: Target Corporation (TGT)

Target Corporation (NYSE:TGT) received a stock rating downgrade from Barclays on Mar-31-16. In a note to investors, the firm issued an Underweight rating and lowered the target price on the stock from $90 to $70. The analysts previously had an Overweight rating on the stock.

Analysts have a consensus target price of $84.45 in the 12-month period. The price objective is 2.64% higher than the recent closing price of $82.28. The 52-week price range is $65.91-$84.00 and the company has a market capitalization of $49.37 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. One analyst has rated the stock with a sell rating, 7 has assigned a hold rating, 0 says it’s a buy, and 10 have assigned a strong buy rating to the company.

Target Corporation (TGT) on March 10, 2016 announced that its board of directors declared a quarterly dividend of 56 cents per common share. The dividend is payable June 10, 2016 to shareholders of record at the close of business May 18, 2016. The 2nd quarter dividend will be the company’s 195th consecutive dividend paid since October 1967 when the company became publicly held.

Additionally, on March 9, 2016 (TGT) announced its board of directors elected Monica C. Lozano as a new director, effective immediately. Ms. Lozano is the former CEO of ImpreMedia, one of the largest media companies serving Hispanic communities in the U.S.

Ms. Lozano, 59, spent four years as CEO of ImpreMedia where she led the transformation of the business into a fully integrated multimedia content company. Previously, Ms. Lozano was Publisher and CEO of La Opinión, the largest Hispanic newspaper in the country, where she began her career in 1985. Under her leadership, the company expanded into new markets and pursued product extensions.

Ms. Lozano has more than 15 years of public board experience and has committed much of her time to non-profit organizations, including serving in leadership roles with the National Council of La Raza. She also served as a member of President Obama’s Council on Jobs and Competitiveness as well as the President’s Economic Recovery Advisory Board.

“Monica is a highly influential, accomplished business leader who will bring more than 30 years of experience to Target’s board of directors. We will benefit greatly from her deep Hispanic insights and expertise as we drive Target’s strategic roadmap forward,” said Brian Cornell, chairman and CEO of Target.

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