Target price target raised to $191 from $157 at RBC Capital

RBC Capital analyst Steven Shemesh raised the firm’s price target on Target to $191 from $157 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company looks well-positioned to deliver EPS at the upper end or potentially above its FY24 guidance range, the analyst tells investors in a research note. Discretionary sales also seem to be stabilizing and comps should get significantly easier after Q1, RBC notes, adding that freight and transportation should remain a gross margin tailwind as Target annualizes the benefit of lower contract rates.