Target's New Beauty Studio Visually Appealing, But Remains a Wildcard, Oppenheimer Says

11:58 AM EDT, 09/11/2026 (MT Newswires) -- Target's (TGT) new Beauty Studio is visually appealing and well-curated, but whether it translates to sales growth remains a wildcard, Oppenheimer said in a Friday note. The new offering launched in more than 600 stores nationwide and online, including over 1,600 products from 90 prestige, emerging and global brands, it said. Over two-thirds of the brands are new to Target, while more than 60% are also carried at specialty retailers Ulta Beauty (ULTA) and Sephora, Oppenheimer said. The firm said its initial store visits showed a bigger presence of skincare, haircare and K-Beauty relative to makeup. "We look forward to seeing how the assortment and experience evolves over time," the note said. Oppenheimer maintained its outperform rating on Target with a price target of $180. Price: 156.16, Change: +0.43, Percent Change: +0.28