Target Stock Is Too Cheap to Ignore, but Should You Buy?
Target (NYSE: TGT) has been caught up in the broad market sell-off, falling 48% off its highs. That ends the streak of several years of momentum as it benefited from being deemed an essential retailer, allowed to stay open during the lockdown stages of the pandemic while other businesses closed their doors temporarily.
Now that Target's stock has sold off, it's too cheap to ignore. But it requires closer consideration to determine if investors should buy right now.
The sell-off in Target's stock accelerated on June 7, when it updated investors, telling them it had to lower profit expectations because of rapidly evolving consumer spending patterns. In its most recently completed fiscal year, Target reported record earnings per share (EPS) of $14.10. To put that outperformance into context, the highest EPS in the decade before the outbreak was $5.51 in 2019.
Source Fool.com
