Target added to ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI analyst Greg Melich is initiating a negative Tactical trading call Target and adding the stock to the firm’s "Tactical Underperform" list ahead of the company’s Q4 earnings report due on February 28. Noting that this marks its fourth consecutive quarter of negative trading calls on Target, the firm said "eventually we’ll be wrong!" The stock has outperformed the market by 12% year-to-date and Evercore anticipates 2023 EPS guidance to come in under Street estimates, probably $8.50-$9.00. The firm has an In Line rating and $155 price target on the shares.