Target Shares Fall After Cowen Analysts Cut Rating
The analysts say Target may find mounting competition from industry peers such as Amazon AMZN and Walmart WMT
Shares of Target (TGT) - Get Report were down Monday after analysts with Cowen cut their rating on the stock to 'market perform' from 'outperform.' Cowen also lowered its price target on Target shares to $68 from $75, noting that the Minneapolis-based retailer might have difficulty driving same-store sales growth, and is finding mounting competition from industry peers such as Amazon (AMZN) - Get Report and Walmart (WMT) - Get Report . Meanwhile, analysts with Jefferson Research recently said Target shares are now a Buy, largely based on the quality of the company's balance sheet and operating efficiency.
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