Target Stock: Buy, Sell, or Hold?
There was a time when shares of (NYSE: TGT) were handily beating the S 500. But pandemic-induced inventory issues have caused the giant retailer to veer off its mark. Since the earnings announcement for its fiscal 2022's first quarter (ended April 30), when the inventory issues were revealed, the stock has slumped 37%. Compare that to the S 500's 14% gain over the same time frame.
In recent quarters, some of Target's financial results have slowly started to improve, even as its stock price has continued to struggle. So how should investors think about Target as an investment today? Was last year's inventory-fueled sell-off overdone, or does Target still have more to prove before investors should buy in?
Issues with the sales mix appear to have caused the inventory challenge that Target faced in early 2022. The company expected the pandemic-induced spending for some items, notably bulkier items like televisions and patio furniture, to remain elevated for longer. This left stores with excess items that needed to be heavily discounted in order to get them sold.
Source Fool.com
Target Corp. Stock
The stock is one of the favorites of our community with 48 Buy predictions and 1 Sell predictions.
As a result the target price of 170 € shows a positive potential of 23.56% compared to the current price of 137.58 € for Target Corp..
