TD Cowen analyst Oliver Chen raised the price target on Target (NYSE: TGT) to $180.00 (from $165.00) while maintaining a Hold rating.

The analyst commented, "2Q EPS at $2.57 beat Street's $2.18 on better traffic-driven comps at +2% (1st positive comps since 4Q22) and discretionary tailwinds in gross margin at 28.9% or +190bps Y/Y vs. Street's +120bps. Apparel +3% and beauty +9% were key traffic drivers but all categories contributed. Low price execution & easier compares helped as TGT saw no consumer health change."