Target price target lowered to $90 from $122 at Roth Capital

Roth Capital lowered the firm’s price target (TGT) on Target to $90 from $122 and keeps a Neutral rating on the shares. Given an unfavorable macro backdrop for discretionary goods, years of underinvestment behind key initiatives such as price and technology and cost pressures associated with tariffs, the firm continues to believe Target is “poorly positioned,” says the analyst, who argues that Target’s Q1 revenue and margin contraction “highlights their precarious position.” The company’s updated EPS guidance implies earnings growth that “seems based on hope,” the analyst added.