Target PT Lowered By Citigroup (TGT)

Citigroup announced on Thursday that it was maintaining a “Buy” rating on the Minnesota-based retailer, Target (TGT), but went on to lower its price target for the company.Deborah Weinswig, an analyst with the firm, noted that Target’s expansion into groceries and focus on improving store level productivity are all encouraging developments that support Citigroup’s current “Buy” rating on the stock. Weinswig, however, went on to add that the health of the U.S. consumer as a whole remains fragile and the company’s recent entry into Canada would likely hurt earnings in the near-term. As such, Citigroup lowered its price target on the company from $75 to $72 a share.

Target shares crept lower on Thursday, shedding .14% on the day. The stock is up 8.04% YTD.