Target price target lowered to $130 from $156 at Piper Sandler

Piper Sandler lowered the firm’s price target (TGT) on Target to $130 from $156 and keeps a Neutral rating on the shares following the notable Q3 miss and guide-down. While part of the Q3 miss can be attributed to transitory factors surrounding supply chain costs and discretionary sales weakness, results also suggest some ongoing share loss, Piper says.