Target price target lowered to $120 from $135 at BofA

BofA analyst Robert Ohmes lowered the firm’s price target on Target to $120 from $135 and keeps a Neutral rating on the shares. Bloomberg Second Measure credit and debit card data showed observed sales for Target down 6.6% quarter-to-date, which is an improvement from the decline of 8.6% observed in fiscal Q2, but “still well below historical levels and peers,” the analyst tells investors in a note recapping credit and debit card data through September 17 for the food and discount retail group.