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Fly News Breaks for March 31, 2016
TGT
Mar 31, 2016 | 06:04 EDT
Barclays analyst Matthew McClintock double downgraded Target to Underweight from Overweight and cut his price target for the shares to $70 from $90. The move comes as the analyst initiated the U.S. Retail Broadlines/Hardlines sector with a Negative industry view. Target's industry leading exposure to sales shifting out of the general merchandise industry and its spending cuts are "major disconnects" with its recently raised long-term comp goal of 3.0%, McClintock tells investors in a research note.
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