Target price target lowered to $130 from $145 at Stifel

Stifel lowered the firm’s price target on Target (TGT) to $130 from $145 and keeps a Hold rating on the shares. Following generally improving trends in July and August, the firm’s survey work shows decelerating spending intentions in mid-September, says the analyst, who thinks ongoing muted spending on discretionary categories will continue to impact retailer comp growth, likely through at least this holiday season. In that context, the firm views Costco (COST) and Walmart (WMT) as the best-positioned retailers to maintain share gains, the analyst tells investors.