Target to offer up to 50% off during two-day cyber monday sale

MINNEAPOLIS - Target Corporation (NYSE:TGT) announced it will hold a two-day Cyber Monday sale from November 30 to December 1, offering discounts of up to 50% on thousands of items across national brands, owned brands, and its expanded Target Plus marketplace. The retail giant, which currently trades at a P/E ratio of just 10.9 according to InvestingPro data, appears undervalued despite facing challenges that have contributed to its 30% stock decline year-to-date.

The sale will begin at 2 a.m. CT on Sunday and will be available primarily on Target.com and the Target app, with select offers in stores. Discounts will span multiple categories including clothing, tech, beauty, home goods, and toys.

Key deals include up to 50% off select clothing and shoes from brands like Champion and Crocs, up to 50% off tech items from brands including Bose and Sony, savings of up to $200 on select Apple devices, and up to 60% off furniture.

Target is also highlighting several new digital shopping features for the holiday season, including an AI-powered Gift Finder, a List Scanner that converts handwritten lists into digital shopping lists, and integration with ChatGPT.

"By pairing innovation and AI with amazing products and unbeatable value, we’re giving guests a more personal, effortless way to find the perfect gift for everyone on their list," said Cara Sylvester, Target’s executive vice president and chief guest experience officer, in the press release.

Target Circle cardholders can receive an additional 5% off purchases. The retailer has also expanded its Target Plus marketplace, which has more than doubled its number of partners over the past year to include brands like Crocs, HP, and Vera Bradley.

The company noted that marketplace purchases include the same benefits as regular Target purchases, including free shipping on orders over $35 and free returns at any Target store. With a market cap of $40.66 billion and an impressive 5.08% dividend yield, Target has maintained dividend payments for 55 consecutive years, according to InvestingPro. Investors can access Target’s comprehensive Pro Research Report, one of 1,400+ available on InvestingPro, for deeper insights into the retailer’s financial health and growth prospects.

In other recent news, Target reported a 2.7% decline in comparable sales for the third quarter, which exceeded some analysts’ expectations but was below others. Despite these challenges, Target’s adjusted earnings per share surpassed sell-side estimates, aided by a favorable tax rate and share buybacks. Truist Securities responded by raising its price target for Target to $90, citing the third-quarter results that exceeded their near-Street-low estimates. Conversely, TD Cowen and Piper Sandler lowered their price targets to $90 and $85, respectively, due to weak discretionary sales and volatile sales trends. Bernstein SocGen Group also reduced its price target to $80, expressing concerns over Target’s planned $1 billion capital expenditure in fiscal year 2026. KeyBanc maintained its Sector Weight rating, noting Target’s mixed results and ongoing transformation efforts amidst discretionary spending challenges. These developments reflect a mixed outlook from analysts as Target navigates its current market conditions.

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