Target (TGT) PT Raised to $86 at Bernstein SocGen Group

Bernstein SocGen Group analyst Zhihan Ma raised the price target on Target (NYSE: TGT) to $86.00 (from $80.00) while maintaining a Underperform rating.

The analyst commented: "Fundamentals look weak once more. We expect the top line to be slightly better than feared - Bloomberg data suggests comp in the -2% range (vs. consensus of -3.2%). Upside could come from the Nintendo Switch 2 launch, at the expense of margins. We see more downside on the gross margin front, as TGT laps tough comps from a shrink recovery perspective. While TGT remains under pressure, there has been some short covering ahead of a potential management change, which could be a catalyst for the stock, especially if an outsider were appointed."

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