Jefferies raised the firm’s price target on Target to $170 from $150 and keeps a Buy rating on the shares ahead of the Q4 reports from the discount retailer group. The firm doesn’t expect many companies to report major earnings surprises based on its analysis of alternative data sets, the analyst tells investors in a preview note. Despite raising its price target, the firm is lowering its Target comp sales estimate to down (5.0%) and reiterating its margin forecasts, while noting that its Q4 EPS forecast is in line with consensus at $2.40.
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