Barclays downgraded Target (TGT) to Underweight from Equal Weight with an unchanged price target of $91. The firm says that absent a bigger strategic shift, the company’s sales will continue to underperform. Target’s comps have improved in Q2, but have continued to underperform in both consumables and general merchandise, the analyst tells investors in a research note. Barclays’ work suggests trends are the weakest among the company’s more frequent shoppers.
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