Target Corp

TGT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$118.00	Jht	Vldbbsgfd

Target Earnings: Margins Hold Up, but Top Line Remains Constrained by Weak Discretionary Spending

Noah Rohr

May 22, 2024

No-moat Target’s fiscal 2024 first-quarter results landed mostly in line with our expectations and we do not plan to alter our $136 fair value estimate materially. Shares trade in fairly valued territory after shedding about 7% in early trading on May 22.

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