DA Davidson Raises Target Price Target to $140 on Inflation Impact

DA Davidson analyst Michael Baker maintained a Buy rating on Target Corporation and raised his price target to $140 from $120, citing the company's turnaround push and refreshed leadership team. Baker believes the turnaround case deserves a higher valuation, with a multiple of 16 times the firm's 2027 EPS forecast, in line with Target's five-year and ten-year average valuation ranges.