Why Target Stock Tanked on Thursday Morning
Shares of Target (NYSE: TGT) were sliding in Thursday morning trading after the retailer disappointed Wall Street with its updated guidance for fiscal Q4. As of 10:50 a.m. ET, the stock was down by 3.2%.
For the fiscal quarter, which will end Feb. 1, management forecast that both GAAP and pro forma profits will come in somewhere between $1.85 per share and $2.45 per share. Unfortunately, according to data from Yahoo! Finance, Wall Street analysts had, on average, been expecting Target to earn $2.65 per share.
This means Target will probably "miss earnings" when its official report comes out in March. And this, in a nutshell, is why investors are selling Target stock.
Source Fool.com
Target Corp. Stock
€129.20
0.620%
Currently there is a rather positive sentiment for Target Corp. with 33 Buy predictions and 12 Sell predictions.
On the other hand, the target price of 119 € is below the current price of 129.2 € for Target Corp., so the potential is actually -7.89%.
