02:22 PM EST, 02/27/2026 (MT Newswires) -- Target ( TGT ) investors are hoping for a major reinvestment news to improve its competitiveness but it may not come this quarter, RBC Capital Markets said Friday in a preview to its Financial Community Meeting, including Q4 results, on March 3.

"We think that announcement is less likely this qtr though," the report said.

The report said adjusted EPS estimate for Q4 is raised to $2.21 from $2.05, and compared with consensus of $2.15, due a recent workforce reduction.

Target ( TGT ) is expected to guide 2026 comparable sales growth between flat and low single digits, and earnings per share in a wide range between $7.30 and $8.30, the note said.

"We can see a scenario where near-term sentiment improves on increased tax refunds + a modestly better tariff outlook, but evidence of structural improvement is likely needed for sustained momentum," the report said.

RBC kept its outperform rating and a $99 price target.

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