Target price target lowered to $142 from $163 at Barclays

Barclays analyst Seth Sigman lowered the firm’s price target on Target to $142 from $163 and keeps an Equal Weight rating on the shares. The analyst reduced estimates to reflect the company’s slowing sales in Q2. The firm is “generally constructive on the recoverability” of Target’s recent weakness over time, but still sees some “cross currents that may push out” the earnings improvement story required for the stock to move higher from here. These include headwinds related to category and customer exposure, and increased competitive dynamics, the analyst tells investors in a research note.