Evercore Lifts Target (TGT) to $105, Maintains In Line Rating

Company Overview - Target Corporation (NYSE:TGT) is a major American general merchandise retailer headquartered in Minneapolis, Minnesota, founded in 1962. The company operates large-format stores offering a broad assortment of groceries, apparel, home goods, and discretionary merchandise, positioning it to compete across value and style-driven segments of the retail market [5]. Leadership Transition - On February 1, 2026, Target implemented a leadership transition with Michael J. Fiddelke becoming the Chief Executive Officer and joining the board of directors. His compensation package includes an annual base salary of $1.30 million, a target annual cash incentive equal to 200% of base salary, and stock-based awards with a target value of $12.1 million [3]. - Former CEO Brian C. Cornell transitioned to Executive Chair of the Board on the same date, receiving a base salary of $1.12 million, a fiscal 2026 cash incentive opportunity equal to 200% of salary, and a restricted stock unit grant valued at $6.0 million [4]. Strategic Execution and Stability - The structured succession plan and continuity in executive leadership are expected to provide operational stability during a period of evolving retail dynamics, reinforcing confidence in strategic execution and long-term shareholder value creation [4]. - Evercore ISI raised its price target on Target Corporation to $105 from $103 while maintaining an In Line rating as part of a fourth-quarter earnings preview [1].