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It can be difficult. However. morale depends on many factors and team performance (i.e. missing targets) is only one.
In this situation the vital thing is to understand why the target was missed, because you need to decide whether the problem is within your power to fix. ("Give me the strength to change the things I can, the patience to accept the things I can't, and the wisdom to know the difference.")
If you can fix it, well, fix it. If you can't, then call the team together and talk to them. Explain what the problem is and why it can't be fixed. Ask them for their ideas on how to improve this difficult situation. What do they need from you to make their job easier/better? Be positive about the future, and have your own ideas on how the problem can be circumvented.