) is expected to announce its Q1 earnings results on Wednesday, May 18, before the markets open. Analysts expect earnings per share to be $0.94, or 4.4% higher than in the same period last year. The Street's estimate was reduced a number of times recently, however. In the last 30 days, the Street's estimate was first reduced from $0.96, and then again seven days ago from $0.95. Revenues are projected to stand at $16.02 billion, or 2.07% above the value recorded in Q1 2010. Target Corporation operates Target general merchandise stores with an assortment of general merchandise and food assortment. Its expanded food assortment includes some perishables and some additional dry, dairy and frozen items. Looking ahead, analysts predict earnings per share will grow at an accelerated pace. In the upcoming quarter, Target is expected to post earnings of $0.99 per share, or an increase of 7.6% on the same quarter last year. For the whole year, earnings per share is projected to reach $4.23, or 9% above the 2010 level. Q2 revenues should stand at $16.13 billion, or 3.8% above the equivalent value a year ago. For the whole year, revenues are expected to stand at $70.18 billion, up 4.1% on 2010. Target has launched an ambitious expansion plan. In January, Target announced a drive into Canada with a $1.91 billion deal to acquire the leases of up to 220 Zellers discount stores from Hudson's Bay. Target has set up a very ambitious goal of $6.25 billion in annual sales in Canada, which it plans to achieve in as little as six years. Investors will also keep an eye on Target's arch-rivals – Wal-Mart (NYSE:

of 152 chief financial officers and other financial executives in the retail sector showed that 24% of retailers around the world expect significant improvement in their financial performance over 2010, while 51% predicted some improvement in financial performance, and 9% forecast a decline. Rating agencies are mostly optimistic on Target's long term outlook. At the moment, 19 agencies have a Buy or Strong Buy on Target. On Monday, its shares lost 1.81% to close the day at $50.34. Target's losing streak continued in today's pre-market trading as its shares lost 0.28%. At the moment, Target is trading at $50.20. In the last 90 days, Target lost 6.33% of its value.