Jefferies Reiterates Buy Rating on Target (TGT)

Jefferies analyst Corey Tarlowe reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT).

The analyst comments "Q2 comp sales of 2.0% beat expectations and was at the high end of guidance (flat-2%). Discretionary category trends continue to improve with apparel growing by more than 3 points. GM expanded ~190bps helped by merchandising initiatives. As a result, OM of 6.4% was ahead of cons. Following a better-than-expected Q2, the top-end of mgmt's 3Q guide is ahead of Street ests. Additionally, mgmt tightened the high-end of its FY comp guide but raised its FY EPS range."

For an analyst ratings summary and ratings history on Target click here. For more ratings news on Target click here.

Shares of Target closed at $144.33 yesterday.

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