Target (TGT) PT Raised to $90 at Truist Securities

Truist Securities analyst Scot Ciccarelli raised the price target on Target (NYSE: TGT) to $90.00 (from $82.00) while maintaining a Hold rating.

The analyst comments "1Q was weaker than cons. and in-line with our well-below Street ests., including a comp decline of (3.8%) and $1.30 in EPS vs. our (3.5%E)/$1.29E. While broader discretionary sales remain soft, we think Target continues to self-inflict wounds (inventory swings, DEI changes, marketing, etc.) even as competitors like Walmart (WMT, Buy) continue to negatively impact the business. Given the negative sales momentum in the business, the potential need to accelerate price investments and potentially greater tariff impacts than mgmt suggested, we continue to think there is additional risk to earnings. Remain Hold, salvaged by 1x-ish shrink benefits, PT to $90 from $82."

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