Target price target raised to $160 from $145 at Telsey Advisory

Telsey Advisory analyst Joseph Feldman raised the firm’s price target on Target to $160 from $145 and keeps an Outperform rating on the shares. The company’s Q3 results were “better than anticipated,” reflecting gains from the recovery of its gross margin and inventory management, the analyst tells investors. Target’s margin recovery story should continue to play out and the firm continues to believe the company should gain market share over time given its value-offering and company-specific initiatives.