Tech Stocks Dip Again as Traders Debate Blip or ‘Bubble'
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Yahoo
13 minutes ago
- Yahoo
Target Announces New CEO, Why Analysts Are Bullish About The Change
Target Corp (NYSE:TGT) shares are down trading on Thursday, after the company on Tuesday reported its second-quarter results. See what is happening with TGT stock here. Here are some key analyst takeaways. DA Davidson reaffirmed a Buy rating, while reducing the price target from $125 to $115. RBC Capital Markets analyst Steven Shemesh reiterated an Outperform rating, while raising the price target from $104 to $107. JPMorgan analyst Christopher Horvers maintained a Neutral rating and price target of $117. Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating and price target of $110. Check out . DA Davidson: Target's results were not good; they were "less worse than expected," Baker said in a note. The pressure on the stock was triggered more by the CEO change, rather than the core business, he added. The decision could be the right one, as the new CEO Michael Fiddelke has been with Target for 22 years and was with the company during the last few difficult years, as well as during the years when the company thrived, the analyst stated. Fiddelke's focus will be on merchandising style and design, store experience and using AI to boost the pace of decision making, "make sense to us," he further wrote. RBC Capital Markets: Target's competitive positioning "has worsened in key areas" and the leadership transition spells an opportunity for the company to address these issues, Shemesh said. "We're hopeful that the Company announces a reinvestment cycle and re-bases 2026 EPS lower, which in our view would make the story attractive to investors," he wrote. There could be some resistance to this strategy, since the current CEO, Brian Cornell, will remain with Target as executive chair of the board and the incoming CEO was part of the strategic planning over the past few years, the analyst stated. He raised the adjusted earnings estimates for 2025 and 2026 from $6.85 per share to $6.92 per share and from $7.41 per share to $7.67 per share, respectively. View more earnings on TGT JPMorgan: Target's second-quarter results were broadly in line with expectations, with comps and earnings slightly better, Horvers said. Inventory was up only 2% year-on-year at the end of the second quarter, after ending the first quarter up 11%. The new CEO is scheduled to take office on Feb. 1, 2026, and is likely to focus on "better execution and higher urgency," the analyst stated. Fiddelke's strategies include "enhancing Target's reputation as an on-trend retailer, providing a more consistent customer experience, and leveraging technology to improve efficiency throughout the business," he further wrote. Telsey Advisory Group: Target's results were slightly better than the consensus but represented a year-on-year decline, Feldman said. The company's adjusted earnings declined by 20.2% year-on-year to $2.05 per share and operating margin contracted by 120 basis points to 5.2%, he added. "Target reiterated its wide 2025 adjusted EPS guidance of $7-$9," the analyst wrote. The announcement of Fiddelke as the new CEO was not surprising, since Fiddelke had held several leadership roles, such as COO, at the company, he further stated. TGT Price Action: Shares of Target had declined by 1.90% to $96.73 at the time of publication on Thursday. Read More: • Photo by bluestork via Shutterstock Latest Ratings for TGT Date Firm Action From To Mar 2022 Raymond James Maintains Strong Buy Mar 2022 JP Morgan Maintains Overweight Mar 2022 Deutsche Bank Maintains Buy View More Analyst Ratings for TGT View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? TARGET (TGT): Free Stock Analysis Report This article Target Announces New CEO, Why Analysts Are Bullish About The Change originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
13 minutes ago
- Yahoo
Cleveland Fed president says she 'would not see a case' for September rate cut given latest economic data
JACKSON HOLE, Wyo. — Cleveland Fed president Beth Hammack said Thursday that the case for cutting interest rates in September would be a hard one to make given recent economic data. "There's a lot of data we're going to get between now and September and I walk into every meeting with an open mind about what the right thing to do is, but with the data I have right now and with the information I have, if the meeting was tomorrow, I would not see a case for reducing interest rates,' Hammack told Yahoo Finance at the Jackson Hole Economic Symposium. Hammack, who said the Fed needs to "stay laser focused" on bringing inflation down to its 2% target, joined her colleague, Kansas City Fed president Jeffrey Schmid, in describing the current stance of monetary policy as "modestly restrictive." Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments Hammack also indicated the central bank should gain more clarity around the impact tariffs have on inflation before determining whether to cut rates, views echoed by her colleagues, Chicago Fed president Austan Goolsbee and Atlanta Fed president Raphael Bostic, last week. "I'm not seeing any signs of potential significant downturns [in the economy], and to me, that's what would require us to move into an easy stance of policy, rather than our currently modestly restrictive stance, so I don't think we have far to go. I think it could be quite some [time]," said Hammack. With investors still expecting the Fed will cut rates in the coming weeks — and with pressures building on the Fed politically to begin a rate-cutting cycle — this view puts Hammack and Schmid among those Fed officials still focused on inflation pressures. Last week's Consumer Price Index (CPI) report showed that while headline inflation was lower than consensus forecasts, on a "core" basis prices rose more than expected. The Producer Price Index (PPI), a read on wholesale prices, also showed inflation pressures building. "My biggest concern is that inflation has been too high for the past four years. Right now, it's been trending in the wrong direction, and so I think it's really important that we stay modestly restrictive to make sure that we can bring inflation back under control," Hammack said. The July jobs report showed hiring slowed last month, while over 250,000 job additions were revised away from the May and June data, pushing down three-month average payroll growth to just 35,000 per month. 'I do expect from the conversations I've had that we're not going to see the full impact of tariffs pass through until sometime next year,' said Hammack. "It usually takes three to four months to start seeing the early impacts of tariffs, and so we're just at that point right now." The uncertainty around the process of implementing tariffs — with several key questions still outstanding — leaves any timelines on the economic impact up in the air, however. 'The way that tariffs have been implemented here, there was a lot of negotiation, a lot of back and forth for a much longer time period, and so it may not be that the economic theory really holds in practice," Hammack said. Jennifer Schonberger is a veteran financial journalist covering markets, the economy, and investing. At Yahoo Finance she covers the Federal Reserve, Congress, the White House, the Treasury, the SEC, the economy, cryptocurrencies, and the intersection of Washington policy with finance. Follow her on X @Jenniferisms and on Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Boston Globe
15 minutes ago
- Boston Globe
Thank you, Massachusetts millionaires!
It's time to thank the people involved in the millionaires tax — including the millionaires — without whom Massachusetts would not continue to be among the 'Our state thrives on eds and meds, and those are things particularly under the axe,' said Phineas Baxandall, research director at the Massachusetts Budget and Policy Center. 'It's fortuitous that some counterbalance from the Fair Share income has been there.' For the second year in a row, revenues from the surtax have Advertisement The Fair Share Amendment specifies that revenues collected on taxable income — not assets — above $1 million be spent only on education and transportation. In the fiscal year just ended, revenues from the surtax Now other high-income states — which tend to be blue states — are A cautionary note: Proponents of the Fair Share Amendment intended that its benefits be used to enhance programs in education and transportation, not substitute for shortfalls. 'These investments have been life-changing for individuals and communities,' said Max Page, president of the Massachusetts Teachers Association, a central player in the Raise Up coalition that fought for the surtax. 'That's why I am concerned that it not become simply a way to backfill cuts by Trump.' Advertisement The idea, he said, 'was not just to prevent cuts; it was always to build a better society.' After voters in Massachusetts passed a hefty cigarette tax in 1992, legislators It's difficult to know whether the surtax is driving rich people from the state. But A state that invests in its future is a state that believes in itself. Despite serious headwinds from Trump's baneful policies, Massachusetts is working to stay a healthy, brainy, welcoming place, a place that values innovation, a clean environment, and world-class health care and education. A place where everybody — from multimillionaires on down – wants to live. Renée Loth's column appears regularly in the Globe.
