Target price target raised to $125 from $113 at JPMorgan

JPMorgan raised the firm’s price target on Target to $125 from $113 and keeps a Neutral rating on the shares. The analyst says Target’s strong profit performance in Q3 was much better than expected as margin and earnings well-exceeded the firm’s above the Street earnings forecast. However, JPMorgan remains cautious on the U.S. consumer and discretionary purchasing and is now modeling nearly flat earnings in 2024.