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Benzinga
Benzinga
Business
Priya Nigam

Target: 5 Analysts Cut Price Target After The Retailer Lowers Guidance

Target TGT NYSE Target Corporation Bobby Griffin Joseph Feldman Robert Ohmes Simeon Gutman Steven Shemesh Raymond James

Target Corporation (NYSE:TGT) announced several initiatives on Tuesday to right-size its inventory, including order cancellations and slashing prices. Management also lowered their guidance for the second-quarter operating margin rate to around 2%, from their earlier expectation of meeting the first-quarter’s 5.3%.

BofA Securities On Target: Analyst Robert Ohmes downgraded the rating for Target from Buy to Neutral, while reducing the price target from $235 to $165.

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