Target price target lowered to $80 from $82 at Bernstein

Bernstein lowered the firm’s price target (TGT) on Target to $80 from $82 and keeps an Underperform rating on the shares. The firm notes Target delivered a messy Q1 as the company struggles to engage with shoppers in store. Comparable sales of -3.8% came in meaningfully below sellside expectations of -1.9% but slightly better than what bears had feared on the buyside. Bernstein also points out that Target lowered and further widened the range of guidance for 2025.