Target (TGT) PT Lowered to $185 at UBS

UBS analyst Michael Lasser lowered the price target on Target (NYSE: TGT) to $185.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "In our view, TGT's 1Q had more positives than negatives. As a result, we believe the pullback in the shares will prove to be a good buying opportunity. This name remains one of the few companies under our coverage in the hardline, broadline, and food retail industry where we see a clear path to top line and margin improvement in the intermediate-term. So, as the macro likely remains volatile in the next few quarters, we think TGT's relative performance will have potential to look even better. This, combined with a very low multiple, mean the set up for the stock is favorable, in our view."

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