Target Under Pressure From Discretionary Spend Slowdown, Mounting Inventory Risk, Goldman Sachs Downgrades Stock

Goldman Sachs analyst Kate McShane today downgraded the shares of Target Corp TGT from Buy to Neutral and lowered the price forecast from $142.00 to$101.00.The analyst is concerned about slowing growth in discretionary categories amid a volatile macro environment. Risks from potential sales declines, tariff impacts, and weaker consumer data from HundredX and Placer also weighed on the outlook.Since joining the Americas Buy List in July 2019, TGT shares have risen 6.5%, trailing the S&P 500's 80% gain, said ...