Target (TGT) is undergoing restructuring by eliminating 1,800 roles, mainly in leadership positions, to reduce bureaucracy amid declining sales. Incoming CEO Michael Fiddelke, in a memo, stated that the layoffs would eliminate 8% of corporate roles in the U.S., impacting 1,000 existing and closing 800 open positions, excluding logistics and in-store staff. The speaker feels the stock is currently undervalued. He updated his buy recommendation roughly one month prior to the current analysis. The current market price is $94.62. The calculated intrinsic value is $120. The presenter maintains a buy recommendation, noting increased geopolitical tensions and tariff impacts on Target's predominantly China-sourced supply chain affect the stock.