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MINNEAPOLIS - Target Corporation (NYSE:TGT) introduced new AI-powered technology features designed to simplify holiday shopping, according to a press release issued Wednesday. The retailer’s shares, currently trading at $91.58, have fallen over 30% year-to-date, though InvestingPro analysis suggests the stock may be significantly undervalued.
The retailer has launched a conversational AI-powered Target Gift Finder that provides personalized gift recommendations based on recipient information entered by shoppers. Additionally, a new List Scanner feature allows customers to scan handwritten lists or family wish lists directly into their shopping carts through the Target app.
For in-store shoppers, Target has enhanced its Store Mode feature, which automatically activates when customers enter a store. The feature guides shoppers through aisles to locate items and connects them to alternative fulfillment methods if products are unavailable.
"We know so many of our guests love shopping our stores with their phones in hand, and when they use the Target app in-store, their basket sizes are nearly 50% higher as they discover more of what they love," said Cara Sylvester, chief guest experience officer at Target, in the company statement.
Target has also added interactive elements to the shopping experience, including a "Find Bullseye" in-store hunt through the app where shoppers can search for the company’s mascot, with holiday stickers available at checkout while supplies last.
The company stated these technological enhancements aim to make the holiday shopping experience more connected and personalized for customers visiting Target’s nearly 2,000 stores nationwide or shopping online.
In other recent news, Target Corporation has announced a quarterly dividend of $1.14 per share, marking its 233rd consecutive payment, which will be paid on December 1, 2025. The company also cautioned shareholders about an unsolicited mini-tender offer from TRC Capital Corporation, seeking to purchase up to 1.5 million shares at $89.00 per share. Analyst firms have been adjusting their positions on Target, with TD Cowen lowering its price target to $105 while maintaining a Hold rating. Similarly, Truist Securities reduced its price target to $83, citing operational missteps in merchandising and marketing. On a more positive note, Guggenheim reiterated its Buy rating, maintaining a $115 price target, as the new CEO Michael Fiddelke implements significant job cuts aimed at streamlining operations. These developments reflect a period of transition and adjustment for Target.
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