JP Morgan Raises Price Target on Target Corp. (TGT)

Sultan Khalid

Tue, May 19, 2026 at 9:07 AM EDT 2 min read

Target Corporation (NYSE:TGT) is included among the Top 12 Undervalued Dividend Stocks to Buy Now.

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Target Corporation (NYSE:TGT) operates as a general merchandise retailer with stores in all 50 states and the District of Columbia.

On May 15, JPMorgan raised its price target on Target Corporation (NYSE:TGT) from $120 to $129, but kept a ‘Neutral’ rating on the shares. The revised target, which reflects an upside of over 6% from the current share price, comes after the analyst firm updated its estimates in the retailing group as part of a Q1 earnings preview.

According to JPMorgan, the pressure from higher energy prices was outweighed by the tax stimulus in the quarter. However, the firm expects minimal revisions to guidance, since the key back-to-school and holiday season are still ahead in a “high uncertainty” environment.

Target Corporation (NYSE:TGT) expects an adjusted EPS in the range of $7.50 to $8.50 for FY 2026, indicating a YoY growth of 5% to 6% at the midpoint. Moreover, the company is targeting to open more than 30 new stores this year, and over 300 new stores by 2035.

Target Corporation (NYSE:TGT) was recently included in our list of the 14 Best Dividend Stocks to Buy for Steady Growth.

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