Forecast Of The Day: Total Number of Target U.S. Stores
What?
The Total Number of Target (NYSE:TGT) U.S. Stores rose from around 1,856 in 2019 to 1,883 in 2020. Trefis expects the number to rise to about 1,920 in 2021 and to about 1,930 in 2022.
Why?
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We expect longer-term growth to slow, driven by Target’s increasing focus on e-commerce. However, Target’s brick-and-mortar locations will remain key to its omnichannel strategy.
So What?
We think that Target stock is slightly undervalued at current levels. We value Target at about $263 per share, marking a premium of about 5% over the current market price.
See Our Complete Analysis For Target
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