UBS lowered the firm’s price target on Target to $174 from $184 but keeps a Buy rating on the shares. The company’s Q3 results will have likely reflected its near-term challenges, with sales expected to “remain pressured as its CEO has been vocal about the consumer pulling back, not only on discretionary items, but also on consumables, the analyst tells investors in a research note. Target has likely managed its margins well in the quarter however, and the long-term outlook for the company “looks appealing”, the firm added.
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Read More on TGT:
- Target price target lowered to $117 from $130 at Citi
- Target price target lowered to $123 from $131 at Deutsche Bank
- Trouble at Target (NYSE:TGT): CEO Notes Consumer Pullback on Everything
- Target announces early Black Friday deals starting October 29
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