Target Lowers FY2023 Adj. EPS Guidance from $7.75-8.75 to $7.00-8.00 Vs, $7.79 Estimate
Portfolio Pulse from Benzinga Newsdesk
Target has lowered its FY2023 adjusted EPS guidance from $7.75-$8.75 to $7.00-$8.00, below the $7.79 estimate. The company expects comparable sales to decline in mid-single digits for the rest of the year due to recent sales trends.
August 16, 2023 | 10:33 am
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Target's lowered EPS guidance and expected sales decline could negatively impact its stock price in the short term.
Target's lowered EPS guidance indicates potential earnings weakness, which could negatively impact investor sentiment and drive the stock price down. The expected sales decline further adds to the negative outlook.
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