BofA analyst Robert Ohmes lowered the firm’s price target on Target to $135 from $145 and keeps a Neutral rating on the shares following the Q2 results. The firm cut its FY24 EPS estimate to $8.00 from $8.25 following the earnings report, and now expects top line weakness to more than offset the beat in Q2 and y/y gross margin improvement, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TGT:
- Target’s (NYSE:TGT) Sales Remain Under Pressure; Multiple Headwinds at Play
- Target price target lowered to $168 from $185 at Goldman Sachs
- Target price target lowered to $165 from $190 at Baird
- Early notable gainers among liquid option names on August 16th
- Unusually active option classes on open August 16th