Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on Target to $140 from $155 and keeps an Equal Weight rating on the shares as the firm reports that quarter-to-date Numerator Insights data shows a rebound from May and June’s challenges. While stating that the risk/reward is “looking more interesting,” the firm is “staying patient” while lowering estimates given a “more tempered” view of sales and margin recapture.
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