Target price target lowered to $129 from $162 at Truist

Truist lowered the firm’s price target on Target (TGT) to $129 from $162 and keeps a Hold rating on the shares following the company’s significant miss/lower for the second half of 2024. While its heavy discretionary mix works against it, the firm thinks the bigger issues are repercussions from last year’s marketing issues, theft deterrent actions and intensifying competitive pressures from deep value providers like Walmart (WMT) and Costco (COST). If Target decides to invest more in “value,” it could further pressure the margin story, Truist adds.