J.P. Morgan analyst Christopher Horvers maintained a Hold rating on Target (TGT – Research Report) today and set a price target of $140.00.
Christopher Horvers has given his Hold rating due to a combination of factors impacting Target’s performance. The company is focusing on enhancing customer experience and expanding its marketplace, which are positive steps towards growth. However, there are concerns about the macroeconomic environment and consumer behavior, which may not be strong enough to boost discretionary spending significantly.
In the short term, Target faces challenges such as weather-related headwinds, declining consumer confidence, and potential cost pressures from tariffs. While management expects improvement with upcoming events and promotions, the overall sales growth is projected to be modest. Given these mixed signals, Horvers maintains a neutral stance, reflecting both the potential and the uncertainties surrounding Target’s future performance.
In another report released today, Bernstein also maintained a Hold rating on the stock with a $124.00 price target.