Should Investors Buy the Dip in Target Stock?
Target's (NYSE: TGT) stock tumbled 13% on Nov. 16 in response to the retailer's third-quarter report. Revenue rose 3% year over year to $26.5 billion, clearing analysts' estimates by $120 million, but its adjusted EPS plunged 49% to $1.54 and missed the consensus forecast by $0.64.
Target has now shed more than 40% of its value over the past 12 months amid concerns regarding its slowing growth, rising inventories, and shrinking margins. But could this painful pullback actually represent a promising buying opportunity?
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Source Fool.com
