TLDR
- Target reports Q2 2026 earnings on August 19, with Wall Street expecting EPS of $2.35 and revenue of $26.15 billion
- TGT stock is up around 55% year-to-date ahead of the print
- Telsey raised its price target to $170 (Buy), Truist to $147 (Hold), and Deutsche Bank to $140 (Hold)
- The average analyst price target of $146.44 implies about 5% downside from current levels
- Barclays analyst Seth Sigman is the most accurate TGT analyst and holds a Sell rating with a $115 target, implying 25% downside
Target Corp. is gearing up to report its second-quarter fiscal 2026 results on August 19, and Wall Street is watching closely. The stock is trading around $154, up roughly 55% year-to-date, which means the bar for a positive reaction is high.
Analysts expect EPS of $2.35, a 13% jump from the same period last year. Revenue is forecast at $26.15 billion, up over 3% year-over-year.
Three analysts raised their price targets ahead of the report, though none moved their overall ratings in a more bullish direction.
Telsey Advisory Group’s Joe Feldman set the most optimistic target on the Street, lifting his price target to $170 from $150 while keeping a Buy rating. That implies roughly 10% upside from current levels. Feldman believes Target can win back lost customers as management pushes forward with its turnaround plan, though he cautioned the recovery will likely have bumps.
Truist’s Scot Ciccarelli raised his target to $147 from $130 but kept a Hold. His call is partly based on the firm’s card-spending data, which suggests comparable-store sales could land around 2.5% or slightly better. He also noted that consumer spending has held up despite economic pressure.
Deutsche Bank’s Krisztina Katai bumped her target to $140 from $126, also staying at Hold. Her view is that investor expectations are already elevated, which raises the stakes for execution.
Beyond the Quarter
Katai’s key point: investors are likely to look past Q2 and focus on whether Target can sustain growth into fiscal 2027. The question is not just whether the retailer beats this quarter, but whether the improvements in store operations and product selection have legs.
Deutsche Bank believes much of the recovery story is already priced in. That puts pressure on management to deliver evidence of lasting improvement, not just a one-quarter beat.
Target named Chandhu Nair as its first-ever chief AI officer this week. CEO Michael Fiddelke, who took the role in February, will be on the hook to reassure investors that the turnaround is on track.
What the Bears Are Saying
Not everyone is buying the rally. Seth Sigman at Barclays has a Sell rating and a price target of $115, implying around 25% downside from current levels. Sigman is the most accurate analyst covering TGT across both three-month and one-year timeframes, with a 70% success rate.
The overall Wall Street picture is mixed: 12 Buys, 15 Holds, and 2 Sells over the last three months. The average price target of $146.44 sits below where the stock is currently trading.
Target reports before the market opens on August 19.
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