What is the outlook for TGT's Q1 2026 EPS?

**The outlook for TGT's Q1 2026 EPS is generally positive with some cautious notes.**

1. **Analyst Forecasts**:
- DA Davidson analyst M. Baker forecasts $1.76 per share for Q1 2026.
- Roth Capital expects $2.27 per share for Q1 2025, which suggests a slight increase year-over-year.
- Telsey Advisory Group has a more conservative view with an estimate of $1.79 per share for Q1 2026.
2. **Recent Performance and Trends**:
- Q1 2025 EPS estimates have been increasing, with Roth Capital's revision from $1.98 to $2.27 indicating a positive outlook.
- Despite a decrease in revenue and earnings in Q1 2024 compared to the previous year, Target is expected to see a slight increase in EPS in Q2 2025, with guidance of $1.95 to $2.35.
3. **Market Conditions and Challenges**:
- The overall retail sector faces challenges, including pressure on consumer discretionary spending.
- Target's delivery costs are expected to be lower than traditional models, potentially aiding in margin expansion.
4. **Stock Performance and Analyst Ratings**:
- The consensus estimate for Target's current full-year EPS is $8.69, indicating confidence in the company's earnings potential.
- Analyst ratings vary, with recent upgrades and downgrades, but the overall sentiment is positive, with multiple analysts giving "Buy" or "Neutral" ratings.

In conclusion, while there are some cautious points to consider, the majority of analyst forecasts for Q1 2026 EPS suggest a stable or slightly improving earnings outlook for Target.