Goldman Sachs' Target 3Q EPS Estimate Still Below Consensus

In a report released this morning, Goldman Sachs said that for Target Corporation TGT, it sees downside risk due to four factors. “1) 1,6% was at low end of 1-3% plan;” Goldman Sachs writes. “2) discretionary and margin rich categories like apparel and home softened in Q3; 3) consensus estimate for 3Q remained flat at $0.68 since 2Q; and 4) comparisons become more difficult in 4Q.” Goldman Sachs said that its 3Q EPS estimate of $0.67 remains a penny below consensus. Target closed Friday at $54.19.