Why DA Davidson Thinks Target (TGT)’s Turnaround Case Deserves a Higher Valuation

Target Corporation (NYSE:TGT) is one of the stocks most affected by inflation. On March 9, 2026, DA Davidson analyst Michael Baker maintained a Buy rating on Target and raised his price target to $140 from $120. Public summaries of the note said the new target was based on 16 times the firm’s 2027 EPS forecast, a multiple DA Davidson said was in line with Target’s five-year and ten-year average valuation ranges. The call context matters here. At Target’s March 3, 2026, financial community meeting, Baker ...