Target pre-announces positive holiday sales, says DA Davidson

DA Davidson keeps a Buy rating and $153 price target (TGT) on Target while citing the company having preannounced a positive holiday sales update, reporting that comps for the November and December period increased 2.0% and total sales were up 2.8%. Target is also raising their quarterly guide to 1.5% from the previous range of flat, and the beat is consistent with the firm’s weekly P.O.S. data checks, which showed increase of 3.5% and 1.9% y/y in November and December, both accelerating from 0.3% in October, the analyst tells investors in a research note.