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Fly News Breaks for May 24, 2018
TGT
May 24, 2018 | 08:28 EDT
MKM Partners analyst Patrick McKeever lowered his price target on Target to $91 from $93 after a miss in Q1 earnings that he attributes to cold weather impact on the company's higher-margin seasonal business. Longer term, McKeever keeps his Buy rating however, citing better than expected same store sales and rising traffic in addition to the benefits from "differentiated merchandising, improved execution and marketing". The analyst adds that Q2 is on pace to show the company's best quarter in terms of comps since Q1 of 2012.