D.A. Davidson cuts Target PT, cites CEO transition and buyout risks
** D.A. Davidson cuts PT on big box retailer Target Corp TGT to $108 from $115, reiterates rating at "buy"
** New PT still implies a premium of 26.6% from stock's last close
** Brokerage says leadership uncertainty following the CEO transition has introduced strategic and execution risks, which outweigh recent operational improvements
** Says co's steep decline in share price and low valuation have sparked buyout speculation
** D.A. Davidson sees potential for a deal - adding the company to its S.T.A.M.P.E.D.E. list under "Equity/Debt Recapitalizations"
** Shares of the company up over 2% at $87.45 in early trading
** 12 of 40 brokerages rate the stock "buy" or higher, 22 "hold" and 6 "sell" or lower; their median PT is $100 - data compiled by LSEG
** Including session moves, shares down 35.7% YTD