Ex-Dividend Stocks: Target, ConEd

NEW YORK (TheStreet) -- The following stocks go ex-dividend Monday, meaning an investor must purchase the shares Friday to qualify for the next dividend payment: Target (TGT), Consolidated Edison (ED), Aflac (AFL), Amgen (AMGN), CenterPoint Energy (CNP) and Marathon Oil (MRO).

Target

The discount retailer's first-quarter comparable-store sales, reported on May 3, rose 5.3%.

"We believe the optionality of accelerated earnings growth in the future combined with a relatively lower valuation is balanced by the challenges (and macro-dependence) of the business. The P-Fresh/REDcard contribution to comps has peaked placing increased reliance on the macro-dependent/discretionary areas of the store to drive sales (suggesting a decelerating comp trend through the year)," JPMorgan analysts wrote in a report Tuesday. "Additionally, EPS growth in 2012 is likely to be suppressed given roughly a $0.50 headwind from Canada expenses and ~$0.20 from lower profits in credit. Moreover, recent management turnover creates increased uncertainty in a tough environment while the company is pushing into Canada. While TGT looks seemingly inexpensive compared to its peers and historical valuation, we believe a relatively discounted multiple is justified. Near term, given the likelihood for a deceleration in same-store sales after a 300+ benefit from the Easter shift and the weather, we expect the stock to fade some of its recent performance."

Forward Annual Dividend Yield: 2.2%

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