Target price target lowered to $95 from $100 at BMO Capital

BMO Capital lowered the firm’s price target (TGT) on Target to $95 from $100 and keeps a Market Perform rating on the shares after its Q1 earnings miss and guidance cut. Despite the declining comps and market share losses to start 2025, the management’s lowered guidance was largely in line with expectations and includes tariffs the majority of which Target expects to mitigate, the analyst tells investors in a research note. BMO adds however that in the near term, it sees continued risk to Target’s gross margins given a challenging inventory planning backdrop.