BofA Securities Downgrades Target (TGT) to Underperform

BofA Securities analyst Robert Ohmes downgraded Target (NYSE: TGT) from Neutral to Underperform with a price target of $93.00 (from $105.00).

The analyst comments "We downgrade TGT to Underperform (from Neutral) and lower our PO to $93 (from $105) based on 12x (was 13x) our updated F27E adj. EPS of $7.75 (was $8.00). We see increasing longer-term sales and margin risks for TGT given slowing digital sales growth, a lack of scale in digital advertising and 3P marketplace, elevated tariff, pricing and merchandising headwinds, and increasing competitive threats from WMT and AMZN."

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 $104.25 yesterday.

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