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Target Stock is Down Nearly 40% From Its High. Time to Buy?

TheMotleyFool

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Target Stock is Down Nearly 40% From Its High. Time to Buy?: https://g.foolcdn.com/editorial/images/723064/shopper-grocery-cart.jpg

Target (NYSE: TGT) posted its fourth-quarter report on Feb. 28. Its revenue rose 1.3% year over year to $31.4 billion, beating analysts' estimates by $670 million, and comparable-store sales grew 0.7%. Adjusted earnings declined 41% to $1.89 per share, which still cleared the consensus forecast by $0.49 per share.

Target's stock rose slightly after that earnings beat, but it remains nearly 40% below its all-time high in November 2021. Should investors buy a few shares of this out-of-favor blue chip retailer as the bulls look the other way?

Image source: Getty Images.

Source Fool.com

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