Goldman Sachs analyst Kate McShane today downgraded the shares of Target Corp (NYSE: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 the analyst.

TGT is facing delayed recovery in discretionary spending due to weakened consumer sentiment, tariff uncertainty, and inflation concerns.

With roughly 53% of its FY24 sales tied to discretionary items, TGT is more vulnerable to shifting consumer behavior than ...

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