Target removed from ‘Tactical Outperform’ list at Evercore ISI, target raised

Evercore ISI raised the firm’s price target on Target to $145 from $130 and keeps an In Line rating on the shares, which the analyst also removed from the firm’s “Tactical Outperform” list as the earnings print catalyst has passed. Target’s Q3 results show it is rebuilding the profit model with further earnings recovery and comp stabilization likely, but “all eyes will be on the ability to swing traffic and sales back into the growth column in 2024” in a slowing retail market backdrop, the analyst tells investors.