Target Shares Plunge 7.45% to 2019 Low on Earnings Concerns

Target (TGT) shares plummeted 7.45% intraday, marking the lowest level since August 2019, with a two-day decline of 7.27%.

Analysts have been revising their outlook on Target, with Truist Financial initially lowering its price target from $134.00 to $124.00 and maintaining a "hold" rating, before further reducing it to $82.00. Robert W. Baird also downgraded Target from an "outperform" rating to a "neutral" rating, setting a $110.00 target price. These adjustments reflect growing concerns about the company's financial performance and market position.

Target is anticipated to report earnings of $1.79 per share for the current quarter, representing an 11.8% year-over-year decrease. This expectation has contributed to the negative sentiment surrounding the stock, as investors reassess their positions in light of the potential earnings shortfall.

In the first quarter of 2025, Target's stock has significantly underperformed, with losses more than double those of the prime equity benchmark and six times worse than other retailers. This underperformance has further eroded investor confidence, leading to a sell-off in the stock.