Cowen Raises Price Target on Target (TGT) After Meeting with Management

Cowen reiterated an Outperform rating on Target (NYSE: TGT), and raised the price target to $92.00 (from $90.00), after meeting with management. Analyst Oliver Chen walked away with increased conviction signature category momentum can continue driven by white space in wellness and “Made to Matter”, continuing newness in apparel/home, and consistent execution in baby/kids and beauty.

Oliver commented, "We’re most excited by efforts to continue signature category momentum, on demand focus for consumers to pick-up anywhere with inventory allocation & retail 101 basics with improving in-stocks. Reit. Outperform & raise PT to $92 (was $90) based on ~17x ’16E EPS given increasing conviction in catalysts for comps upside,GM flexibility & agility to drive share gains."

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 $77.71 yesterday.

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