Daiwa downgraded Target (TGT) to Neutral from Outperform with a price target of $130, down from $170. Both the company’s sales and profit were below expectations in Q3, and the annual outlook was lowered, the analyst tells investors in a research note. The firm believes Target’s uncertainty persists as the improvement in sales of discretionary products with high margins is postponed. The stock price does not feel overvalued or cheap when considering the uncertainty of the results, contends Daiwa.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TGT:
- Target downgraded to Neutral from Outperform at Daiwa
- Unusually active option classes on open November 25th
- Oppenheimer moves Target back to ‘top pick’ after Q3 reset
- Is Target Stock Worth a Look After a 20% Post-Earnings Selloff?
- Trump Trade: Transition team weighing White House crypto role
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
