Target price target lowered to $150 from $165 at Oppenheimer

Oppenheimer lowered the firm’s price target (TGT) on Target to $150 from $165 and keeps an Outperform rating on the shares after attending the company’s analyst day in NYC and spending time with senior management. Compared with its analyst day preview here, the firm says that the 2025 guidance played out largely as expected, but refreshed longer-term targets fell slightly short of last year’s update with management now forecasting long-term EPS growth in the mid-to-high single-digits vs. high single-digits previously. Oppenheimer sees an attractive risk/reward with downside risk to the $105-$110 range based on its assessment of historical trough valuations and upside to at least $150. The firm would continue to take advantage of any volatility in shares.