.August 14, 2024 12:56 PM

Oppenheimer analysts have lowered their price target for Target (NYSE:TGT) to $180 from $200, maintaining an Outperform rating. They adjusted their outlook ahead of Target’s Q2 earnings report, expecting flat comparable sales and citing cautiousness due to uncertain consumer environment. Despite challenges in discretionary spending, analysts see potential for multi-year profit recovery at Target, though stronger comp growth may be delayed. They view recent stock pullback as a buying opportunity for long-term investors and suggest taking advantage of any further dips in the stock. Target’s Q2 earnings report is scheduled for August 21.