Target initiated with a Neutral at Mizuho

Mizuho analyst David Bellinger initiated coverage of Target (TGT) with a Neutral rating and $92 price target The firm believes Target has lost some of its competitive edge lately, as comp sales have deteriorated and shrink continues to compress margins. Management is still finding its way through a multi-year profit recovery with stable and rebounding comp sales growth “the missing ingredient,” the analyst tells investors in a research note.