Forecast Of The Day: Target’s Average U.S. Revenue Per Square Foot
What?
Target’s (NYSE:TGT) Average U.S. Revenue per Square Foot rose from about $388 in FY’20 to around $418 in FY’21. Trefis expects the number to rise marginally to about $421 in FY’21 and $423 in FY’22.
Why?
- TGT Stock Up 21% YTD, What’s Next?
- Down 28% This Year Will Target Stock Rebound Past Q3?
- Will Target Stock Return To Pre-Inflation Shock Highs?
- Target’s Stock Is Down 20% This Year, What’s Next?
- Target Stock To Likely Trade Higher Post Q1 Results
- What’s Next For Target Stock After A 32% Fall In The Last Year?
Target saw a surge in sales over FY’21 due to higher spending on goods through the Covid lockdowns, and the company’s decision to put its stores at the center of its omnichannel strategy, leveraging them for same-day pickup. However, we expect growth rates to slow going forward.
So What?
Target stock has rallied by almost 2x over the last year. However, we think all the stock is fully priced at current levels of around $260 per share.
See Our Complete Analysis For Target
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