Target price target raised to $140 from $130 at Guggenheim

Guggenheim analyst John Heinbockel raised the firm’s price target (TGT) on Target to $140 from $130 and keeps a Buy rating on the shares. Year-to-date outperformance has “eliminated the turnaround’s ‘free look’ but the surprisingly sturdy top-line inflection has bolstered its probability,” the analyst tells investors. The analyst raised the firm’s Q1 EBIT and EPS estimates to “Street-high levels” to reflect top-line momentum, the analyst added.