Target Corporation (TGT)

Outperform Recap: Q1 FY26

Fiddelke's First Quarter as CEO Delivers Credible Inflection: Comp +5.6% Crushes +2% Guide on Traffic +4.4%, FY26 Sales Guide Raised — Upgrading to Outperform

Hold Recap: Q4 FY25

Fiddelke's 4-Priority Framework Formalized at Financial Community Meeting; FY26 Guide $7.50-$8.50 EPS With $5B CapEx + $1B P&L Investment — Maintaining Hold

Hold Recap: Q3 FY25

Q3 Trends Soften vs Q2; 1,800 HQ Headcount Cut (8% of HQ) Announced; FY25 EPS Narrowed to Bottom Half; Cornell's Final Call — Maintaining Hold

Hold Recap: Q2 FY25

Fiddelke Named Next CEO as Comp -1.9% Improves From Q1 Trough; FY25 EPS Guide $7-$9 Reiterated — Initiating at Hold