BMO Capital lowered the firm’s price target on Target (TGT) to $155 from $170 and keeps a Market Perform rating on the shares. The company’s Q1 results were in line with expectations, though investor expectations for continued gross margin upside were “clearly reigned in”, the analyst tells investors in a research note. BMO adds that its price target cut reflects signs of Target share losses widening in food and consumables, continued weakness in digital growth, and signs of increasing same-day competition from Amazon (AMZN) and Walmart (WMT).
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