Target price target lowered to $190 from $195 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Target to $190 from $195 and keeps an Outperform rating on the shares. The company reported “mixed” Q1 results, with a slight EPS miss, the analyst tells investors. The Q1 performance reflects ongoing weakness in discretionary categories as well as softening trends in frequency categories, the firm says. Despite this, Target’s profitability should remain healthy as it benefits from margin recovery and productivity initiatives, the firm adds.