Target (TGT) Stock Collapses 24% on Disappointing Results, Analyst Downgrades to Hold
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Truist Securities Downgrades Target (TGT) to Hold, PT Reduced to $171 Despite Substantial Drop
May 18, 2022 8:01 AM EDTTruist Securities analyst Scot Ciccarelli downgraded Target (NYSE: TGT) from Buy to Hold and followed on with a price target reduction to $171.00 (down from $261.00) following on its rare, intra day downgrade due to breaking news. The follow-on price target reduction offers only... More
Macy's (M), Kohl's (KSS), Other Retailers Trade Lower in Sympathy with Target (TGT)
May 18, 2022 7:18 AM EDT(Updated - May 18, 2022 7:21 AM EDT)
Macy's (NYSE: M), Kohl's (NYSE: KSS), Other Retailers Trade Lower in Sympathy with Target (NYSE: TGT)
TGT -21%M... MoreTarget (TGT) Plunges 21% Following Disappointing Results
May 18, 2022 6:41 AM EDTTarget (NYSE: TGT) Plunges 21% Following Disappointing Results
... MoreTarget warns of margin hit as rising costs dent profit, shares slump 26%
May 18, 2022 6:38 AM EDTBy Aishwarya Venugopal and Uday Sampath Kumar
(Reuters) -Target Corp's quarterly profit halved and it warned on Wednesday of a bigger margin hit this year due to rising fuel and freight costs, in a clear sign there would be no immediate relief for U.S. retailers from surging inflation.
Shares tumbled 26% following the bleak results that came a day after larger rival Walmart Inc cut its annual profit view and its shares logged their worst day since 1987, though both retailers clocked better-than-expected quarterly sales.
... MoreTarget (TGT) Misses Q1 EPS by 88c, Offers Guidance for Q2 and FY22
May 18, 2022 6:31 AM EDT(Updated - May 18, 2022 6:35 AM EDT)
Target (NYSE: TGT) reported Q1 EPS of $2.19, $0.88 worse than the analyst estimate of $3.07. Revenue for the quarter came in at $24.83 billion versus the consensus estimate of $24.47 billion.
Comparable sales grew 3.3 percent, on top of 22.9 percent growth last... More