Target price target lowered to $160 from $195 at BofA

BofA analyst Robert Ohmes lowered the firm’s price target (TGT) on Target to $160 from $195 and keeps a Buy rating on the shares following the company’s Q3 earnings miss and soft guidance. The firm lowered its FY25 EPS estimate to $8.60 from $9.70 given the Q3 miss and its expectation for ongoing headwinds in Q4, noting that its flat Q4 comp forecast reflects continued softness in discretionary categories and calendar impacts and that it also expects most of the Q3 cost headwinds to pressure the quarter.