RBC Capital analyst Steven Shemesh lowered the firm’s price target on Target to $198 from $206 but keeps an Outperform rating on the shares after its better than expected results and outlook. The company’s FY23 margin guide has been "de-risked", with the management also providing some limited visibility into FY24 numbers, the analyst tells investors in a research note. RBC further states that Target’s forecasts are "appropriately prudent" and ultimately make the story more investable.
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