Is Target Stock Too Cheap to Ignore?
The discount being offered for (NYSE: TGT) shares in 2023 might be getting out of hand. The retailer's stock is down 25% so far this year compared to a 14% increase for the S 500. That slump comes even as retailing peers like Walmart (NYSE: WMT) and Costco Wholesale (NASDAQ: COST) have stocks currently beating the wider market in 2023.
There are some good reasons for investors to be disappointed about Target's short-term outlook relative to its rivals. But a lot of that pessimism was already reflected in its lower valuation. Let's look at whether the stock's drop this year now makes it a good value -- or a value trap -- going forward.
The biggest knock against Target as a company right now is the fact that sales trends look weak compared to peers and have softened in recent quarters. Customer traffic was down 4% in fiscal Q2 (ended July 29), while Walmart and Costco each managed modest gains during their comparable quarters.
Source Fool.com
Target Corp. Stock
With 62 Buy predictions and 1 Sell predictions Target Corp. is one of the favorites of our community.
With a target price of 160 € there is a slightly positive potential of 14.17% for Target Corp. compared to the current price of 140.14 €.
