Target price target lowered to $145 from $160 at Stifel

Stifel lowered the firm’s price target on Target to $145 from $160 and keeps a Hold rating on the shares following the Q2 results. The 5% comp decline was offset by solid cost management resulting in a less-bad-than-feared full-year comp and EPS guidance reduction, the analyst tells investors in a research note. Target is set up to outperform when consumer spending begins to normalize, though near-term, shares could remain range-bound given limited visibility, Stifel says.