11:15 AM EDT, 05/22/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target to $160 from $171, 17x our FY 25 (Jan.) EPS of $9.44 (cut from $9.52; FY 26 up to $10.52 from $10.40) and in line with its long-term average. FQ1 (Apr-Q) EPS of $2.03 (-1% Y/Y) missed by $0.03, with comp sales falling 3.7%, which was in line with consensus. While TGT kept its full-year outlook unchanged, FQ2 guidance was underwhelming, as TGT continues to struggle with weak consumer discretionary spending. Moreover, TGT is now seeing softening trends in some frequency categories like food/beverage and household essentials, driven by less pricing benefits. However, beauty continues to be a standout, along with seasonal products and exclusive offerings. TGT recently announced price cuts in everyday items, hoping to spur more consistent traffic growth, which we think could have negative margin implications and push out the timeline to return to its pre-pandemic 6%+ operating margins. TGT hasn't repurchased shares in nearly two years, but may resume buybacks toward the end of this year.