Target price target lowered to $125 from $140 at DA Davidson

DA Davidson lowered the firm’s price target (TGT) on Target to $125 from $140 but keeps a Buy rating on the shares after its Q1 earnings miss and guidance cut. The negatives, both with respect to near term and longer term, are offsetting any positives, though much of the damage to the stock seems to have been done, with valuation hitting a ten year low earlier this quarter in early April, the analyst tells investors in a research note. With the stock down far less than the guidance cut of 8%-20%, that suggests that shares may be “washed out”, the firm added.