Target price target lowered to $131 from $157 at Roth MKM

Roth MKM analyst Bill Kirk lowered the firm’s price target on Target (TGT) to $131 from $157 and keeps a Neutral rating on the shares after its Q3 earnings miss and guidance cut. The company is citing a shifting macro environment that caused its most profitable categories to fall out of favor, but results from Walmart (WMT) suggest Target is losing market share, the analyst tells investors in a research note. Given inventory levels and demand volatility, the firm is concerned regarding Target’s ability to properly prepare for potential tariffs, Roth MKM states, adding that Target has to lower relative prices and increase investment on a depressed earnings base.