Market Overview

UPDATE: Jefferies Downgrades Target to Hold on Challenging Season

Related TGT
Cybersecurity Sector Mixed Following FXCM Cyberattack
Behavior Profiles Could Be The Latest Weapon In The Cybersecurity Battle
Are Consumer Staples Stocks Poised for Strong Growth? (Zacks)

Jefferies reduced its rating on Target (NYSE: TGT) from Buy to Hold and lowered its price target from $74 to $59.

Jefferies noted, "While we had high hopes for Target this season, we believe the company continued to struggle in a few areas, including poor online execution, soft December sales, poor results with the Neiman Marcus merchandising initiative, increased price competition (greater price matching), and more markdowns yy. Tough comparisons loom in Q1, so shares may stay in a narrow range."

Target closed at $59.17 on Monday.

Latest Ratings for TGT

Sep 2015Cowen & CompanyMaintainsOutperform
Aug 2015BMO CapitalMaintainsMarket Perform
Aug 2015UBSMaintainsNeutral

View More Analyst Ratings for TGT
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings


Related Articles (TGT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters