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Fly News Breaks for April 29, 2016
TGT
Apr 29, 2016 | 14:13 EDT
As previously reported, Wolfe Research downgraded Target to Peer Perform from Outperform. The firm's analyst believes Target's sales for the remainder of the year will be more challenged given the more sluggish consumer backdrop and potential ramp in competition. Wolfe Research said FY17 revamp of the consumables area is likely to take longer than expected and could hold back traffic gains and reduced its comp sales and earnings estimates for FY16 and FY17.
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