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What analysts are saying: Target on 'hold'

April 16, 2013 at 7:59PM
Slow sales forced Target to eventually cut some prices by as much as 70 percent this hoiday season.
Slow sales forced Target to eventually cut some prices by as much as 70 percent this hoiday season. (Associated Press/The Minnesota Star Tribune)

Jefferies analyst Daniel Binder has put a cautionary "hold" call on the stock of Target Corp. His two-month target price is $59 per share. That's a gloomy take on the big retailer, which traded around $64 in November, before falling to a year-end close of $59.17. That came amid worries about consumer holiday spending. And some market strategists doubt retailers will improve without a surging economy and consumer confidence.

Binder spelled out the most pessimistic case for Target, which closed Friday at $60.58. But the 16 other retail analysts who cover Target see a brighter outlook.

HUTCH TECH: 'BUY'

Analyst Christian Schwab of Craig-Hallum Capital has resumed coverage with a "buy" on beaten-up Hutchinson Technology. Schwab said last week that he sees a $4 per share price this year. He put the "buy" on in late November, when the stock was at $1.50. He projects a first full-year profit of 52 cents per share in fiscal 2015.

Schwab looks smart so far as Hutch, which makes suspension assemblies for hard-disk drives, closed Friday at $2.16, up 11.3 percent for the week. Insiders bought nearly 200,000 shares since last summer at prices as low as $1.25 per share.

NEAL ST. ANTHONY

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