Target Corp (NYSE:TGT) reported growth in holiday sales and kept earnings outlook unchanged. Here are some key analyst takeaways.

Truist Securities On Target

Analyst Scot Ciccarelli reiterated a Hold rating while lifting the price target from $129 to $134.

Target’s holiday sales growth of 2.8% was driven by a 3% rise in traffic, Ciccarelli said in a note. The company indicated a meaningful acceleration in discretionary sales, “marking an inflection in these categories,” which have been weak in recent quarters, he added.

Although management raised their fourth-quarter comp guidance to around 1.5%, from the previous projection of flat comps, they kept the earnings guidance unchanged at $1.85- $2.45 per share, the analyst stated. This suggests that “promotions/discounts remain important to customer shopping activity,” he further wrote.

DA Davidson On Target

Analyst Michael Baker maintained Buy rating and a price target of $153.

Target’s comps for November and December rose by 2.0%, taking total sales up 2.8%, Baker said. The better-than-expected …

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