Target price target lowered to $165 from $195 at Jefferies

Jefferies lowered the firm’s price target (TGT) on Target to $165 from $195 and keeps a Buy rating on the shares after the company reported Q3 results below consensus and lowered its fiscal year guidance to account for the ongoing pressure. Heading into the Holidays, Target guided Q4 comps to flat and EPS below consensus, notes the firm, which is lowering its own estimates, but believes Target remains well positioned in the long-term when broader discretionary spending improves.