Target price target raised to $139 from $116 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Target to $139 from $116 and keeps a Hold rating on the shares. The company’s Q3 sales “remained soft”, but better gross margins drove strong earnings upside in the quarter, the analyst tells investors in a research note. These results also help boost confidence in Target’s ability to revert to 6% EBIT margins and also represents the company’s “first good news” in the last 18 months, the firm added.