Argus keeps a Buy rating and $200 price target on Target while noting that the stock’s recent weakness offers a buying opportunity. The company’s Q1 earnings and sales missed estimates while its comps fell 3.7% as Target continues to navigate soft industry sales of discretionary merchandise, including home and hardlines, but the company has earned its status as a ‘go-to’ retailer with convenience, attractive prices, stylish merchandise, a solid online platform, and some of the easiest returns in retail, the analyst tells investors in a research note.
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