Gordon Haskett downgraded Target (TGT) to Hold from Buy with a price target of $135, down from $145. While it remains to be seen how holiday 2024 played out for many in retail, on the surface Target’s 2.0% same-store sales Holiday-9 update suggests it is losing market share to peers, the analyst tells investors. In addition, the firm continues to be “a bit underwhelmed by the merchandising prowess at Target,” the analyst added.
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