Target assumed at Neutral from Outperform at Credit Suisse

Credit Suisse analyst Karen Short downgraded Target to Neutral from Outperform with a price target of $160, down from $165, as she assumed coverage of the stock. Target offers "a healthy balance of reasons to be positive longer term," but cautious in the near-term, argues Short, who points to questions about the sustainability of share gains and consensus estimates for FY23 and FY24 that are "too high" as concerns.