Target price target raised to $200 from $180 at DA Davidson

DA Davidson raised the firm’s price target on Target to $200 from $180 and keeps a Buy rating on the shares after its Q4 earnings beat and above-consensus guidance. The company is set for a "bounce back year" in 2023 as the retailer comes into the year with a cleaner inventory position and more cautious plan than last year, the analyst tells investors in a research note. Target management has also outlined a number of themes that support the view that the company should show among the best profit and EPS growth of any big box retailer this year relative to 2022, the firm added.