What's Going On With Target Stock?
Portfolio Pulse from Adam Eckert
Target Corp (NYSE:TGT) shares are trading lower after the company announced price cuts on approximately 5,000 frequently shopped items just days ahead of its earnings report. Target aims to help consumers save more amid financial pressures. The retailer is expected to report earnings of $2.02 per share and revenue of $24.51 billion for the first quarter.
May 20, 2024 | 2:15 pm
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Target Corp (NYSE:TGT) shares are trading lower after announcing price cuts on 5,000 frequently shopped items ahead of its earnings report. The company aims to help consumers save more amid financial pressures. Target is expected to report Q1 earnings of $2.02 per share and revenue of $24.51 billion.
The announcement of price cuts on frequently shopped items suggests a potential decrease in profit margins, which could negatively impact short-term stock performance. Additionally, the timing of the announcement just before the earnings report may indicate concerns about meeting financial expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100