Stifel lowered the firm’s price target on Target (TGT) to $137 from $165 and keeps a Hold rating on the shares. The firm lowered its FY24-FY26 estimates following the company’s “disappointing” Q3 results and below consensus Q4 outlook. While the company in part attributed decelerating comp trends to a cautious consumer spending environment, the firm believes the result indicates underperformance compared to large peers, particularly Costco (COST) and Walmart (WMT), the analyst tells investors.
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Read More on TGT:
- Target price target lowered to $160 from $195 at BofA
- Target price target lowered to $130 from $156 at Piper Sandler
- Target price target lowered to $145 from $180 at Guggenheim
- Target price target lowered to $139 from $167 at JPMorgan
- Target Corporation Reports Modest Q3 Growth Amid Challenges
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
