Target price target lowered to $103 from $112 at RBC Capital

RBC Capital lowered the firm’s price target (TGT) on Target to $103 from $112 and keeps an Outperform rating on the shares. The company’s Q1 results missed already “very beat down” expectations, leading to a 2025 guidance cut, though the question of whether the revised guidance and the current share price properly embed potential risks ultimately depends on how consumers react to broad-based inflation in the second half of the year, assuming current tariff rates hold, the analyst tells investors in a research note. RBC adds that it is taking a more prudent approach with its model while layering in comp/margin headwinds beginning in Q3.