Target Stock Is Finally Cheap Enough to Buy
The tailwinds of the pandemic have fully faded for retailer (NYSE: TGT). Comparable sales are flatlining, digital sales are slumping, and even the company's popular same-day services like curbside pickup are putting up tepid growth numbers.
Target has made progress reducing inventory levels, but the company is now facing threats on multiple fronts. Inventory shrink, partly driven by theft, is expected to reduce the bottom line by more than $500 million this year. And, as noted by an analyst at KeyBanc, the resumption of student loan payments later this year could zap the spending power of Target's customer base.
Target stock soared during the pandemic years as the company leaned into the digital side of its business. Target produced revenue of $106 billion in 2021, up $28 billion from the pre-pandemic year of 2019. About half of that sales gain came from the company's stores, and the other half came from digital channels.
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..
