JPMorgan lowered the firm’s price target (TGT) on Target to $105 from $140 and keeps a Neutral rating on the shares as part of an earnings preview. The firm reduced estimates for Q1 and the year on sales softness and promotional risk. JPMorgan expects a guidance cut from Target. Uncertainty and tough weather affected goods purchasing in Q1 with some improvement in April on less punitive weather and the Easter shift, the analyst tells investors in a research note.
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