Target price target lowered to $140 from $156 at Roth MKM

Roth MKM lowered the firm’s price target on Target to $140 from $156 and keeps a Neutral rating on the shares. The company’s Q2 results revealed an unfavorable landscape and uncertain outlook as comps and e-commerce growth declined 5.4% and 10.5% respectively, the analyst tells investors in a research note. Target has a long-term opportunity to monetize a growing, captive digital audience, and showed strong results during the COVID-19 disruption, but now the company is facing stagnant customer satisfaction in Yelp! scores and declining RedCard loyalty penetration, the firm added.