Target Conservative Guidance Could Provide Opportunity

Target is expected to report 4Q results next week, and Oppenheimer analysts say they see more conservative guidance in 2024, which could potentially trigger selling in the stock. They recommend taking advantage of any weakness following Target’s more than 40% rally off the October lows. They say Target remains a top Oppenheimer pick and reiterate their outperform rating while raising the price target to $170 from $160. The stock sinks 1% to $150.33.

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