Target price target lowered to $155 from $170 at UBS

UBS analyst Michael Lasser lowered the firm’s price target (TGT) on Target to $155 from $170 and keeps a Buy rating on the shares. Target’s demand trends have been volatile in the past couple of years, due in part due to some external headwinds, like unpredictable weather trends and episodic consumer demand for discretionary categories, but there are things Target can do to mitigate these headwinds going forward, including execution, inventory reliability, and demand forecasting, the analyst tells investors in a research note. The retailer is acknowledging that it should improve these aspects of its business, the firm says.