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."
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Shares of Target closed at $144.33 yesterday.