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
Our community is currently high on Target Corp. with 33 Buy predictions and 12 Sell predictions.
However, we have a potential of -7.75% for Target Corp. as the target price of 119 € is below the current price of 129.0 €.
