UPDATE: Morgan Stanley Raises PT on Target from $64 to $67

Morgan Stanley maintained an Overweight rating on Target

and raised its price target from $64 to $67. Morgan Stanley wrote, “While comps downshifted from 4.3% in May to 2.1% in June, Target is still confident it can deliver 3% comps in 2H. It still sees the same tone from consumers; cautiousness in a weak economy, but willingness to spend when shown the right product and presentation. We view continued gains in REDCard and PFresh as important drivers to a 3% comp in 2H.” Target closed at $61.25 on Thursday.