Target price target lowered to $140 from $153 at DA Davidson

DA Davidson analyst Michael Baker lowered the firm’s price target (TGT) on Target to $140 from $153 and keeps a Buy rating on the shares. Expectations on the stock were muted heading into the company’s Analyst Day as evidenced by its 31% discount in relative price to earnings multiple, and against this backdrop, Target did a good job laying out where they are seeing improvements and what it will mean for 2025 and longer term, the analyst tells investors in a research note.