Target price target raised to $135 from $100 at TD Cowen

TD Cowen analyst Oliver Chen raised the firm’s price target (TGT) on Target to $135 from $100 and keeps a Hold rating on the shares. The firm said reinstating merchandising authority in apparel and& home which together is roughly 30% of its mix, will be essential to drive positive comps and improve still-negative traffic trends. Cowen remains Hold-rated but are hopeful and excited for “focused newness.”