Why Target Stock Is Getting Crushed Today
Based on the market reaction, it seems the third quarter couldn't have gone worse for discount retailer (NYSE: TGT). And that initial response looks about right. The company missed third-quarter revenue and earnings estimates and slashed its full-year guidance.
It was the biggest earnings miss for the company in two years. And the stock got rocked. Shares were holding near session lows down a whopping 21.6% as of 12:40 p.m. ET. But amid all the negativity, there might be room for investors to benefit. Target stock has been up and down this year and was already badly trailing the S 500 index even heading into earnings. And that's why some investors should be paying attention.
After the big earnings miss, Target reduced full-year guidance to a midpoint of $8.60 per share. That's shy of the $9.35 per share it previously offered and also well below the $9.55 a share expected by analysts, according to CNBC.
Source Fool.com
Target Corp. Stock
Currently there is a rather positive sentiment for Target Corp. with 25 Buy predictions and 7 Sell predictions.
On the other hand, the target price of 98 € is below the current price of 99.02 € for Target Corp., so the potential is actually -1.03%.
