Roth MKM analyst Bill Kirk lowered the firm’s price target on Target (TGT) to $131 from $157 and keeps a Neutral rating on the shares after its Q3 earnings miss and guidance cut. The company is citing a shifting macro environment that caused its most profitable categories to fall out of favor, but results from Walmart (WMT) suggest Target is losing market share, the analyst tells investors in a research note. Given inventory levels and demand volatility, the firm is concerned regarding Target’s ability to properly prepare for potential tariffs, Roth MKM states, adding that Target has to lower relative prices and increase investment on a depressed earnings base.
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Read More on TGT:
- Target price target lowered to $137 from $165 at Stifel
- 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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
