Target price target raised to $142 from $117 at Citi

Citi raised the firm’s price target on Target to $142 from $117 and keeps a Neutral rating on the shares. The margin recovery part of the Target story played out better than expected in Q3, helped by good inventory and expense management, the analyst tells investors in a research note. The firm says that although comps were no worse than expected in the quarter, the result is still weak on an absolute basis and the company forecasts this same mid-single-digit comp decline in Q4. It is difficult to determine when Target’s negative comps might subside, contends Citi.