Target Stock Finally Looks Like a Buy
Target (NYSE: TGT) stood out from rivals as one of the best-performing retailers during the COVID-19 pandemic. Sales and earnings surged to unprecedented heights, as consumers shifted spending to goods rather than in-person experiences and gravitated to convenient "one-stop shopping" options.
This business momentum helped Target stock double between the beginning of 2020 and late 2021, ultimately peaking above $260 last November.
Sales growth has continued in 2022. However, Target's profit margin is crashing back to earth. As a result, Target stock has plunged more than 40% from its November 2021 high, with most of the drop coming in the last month. This has created a good entry point for long-term investors.
Source Fool.com
