Target (NYSE:TGT) Stock Soars on Strong Q1 Earnings and Analyst Upgrade

Font: Financial Modeling Prep  • May 22, 2026

• D.A. Davidson analyst raised Target's price target to $155.00, indicating a potential upside of 22.83%.
• Target reported strong first-quarter results, with adjusted earnings of $1.71 per share and sales of $25.44 billion, both exceeding analyst expectations.
• The company's refreshed retail strategy is showing early success, with comparable sales growing by 5.6% and store traffic increasing by 4.4%.

Target Corporation (NYSE:TGT) is a major general merchandise retailer in the United States. It competes with companies like Walmart but aims to provide a different shopping environment. This strategy attracts consumers who are looking for an alternative to its main competitors, as highlighted by MarketBeat.

On May 22, 2026, Michael Baker, an analyst from D.A. Davidson, raised the price target for Target to $155.00. At the time the target was set, the stock's price was $126.19. This new target represents a potential upside of approximately 22.83% from its price at that moment.

This positive outlook follows strong first-quarter results where Target topped Wall Street estimates. The company reported adjusted earnings of $1.71 per share, which was significantly higher than the $1.46 analysts expected. Sales also grew 6.7% to $25.44 billion, beating the consensus estimate of $24.64 billion, as highlighted by Benzinga.

The company's refreshed strategy is showing early signs of success. As highlighted by Zacks, comparable sales grew by 5.6% and store traffic increased by 4.4% in the first quarter. To support this growth, Target has enhanced its product offerings by adding 1,500 wellness items and 3,000 food items.

Following these strong results, Target raised its full-year sales forecast to a range of $108.45 billion to $109.50 billion. The company also affirmed its fiscal 2026 adjusted earnings guidance and now expects its earnings per share to be near the high end of the $7.50 to $8.50 range.