Down 30% in 2022, Is Target Stock a Buy?
Target (NYSE: TGT) was once considered a stable blue chip stock for conservative investors. It's one of the largest brick-and-mortar retailers in America, it survived the rise of Amazon and the subsequent "retail apocalypse," and raised its dividend annually for more than half a century.
But this year, Target's stock has declined by more than 30% as it grappled with tough macroeconomic headwinds. Does that steep pullback represent a good buying opportunity for long-term investors -- or is it still too early to pull the trigger?
Target's stock closed at an all-time high of $260.85 last November. At the time, investors were impressed by its robust comparable-store sales growth, stable gross margins, and expanding operating margins.
Source Fool.com
