Posted on 06/05/2023 9:08:33 AM PDT by cotton1706
Target's stock was downgraded to sector weight from overweight by KeyBanc Capital Markets.
Target Corp.'s stock was downgraded to sector weight from overweight by KeyBanc Capital Markets Monday amid consumer spending pressures, specifically the impact of student loan repayments.
"While we still believe in the LT [long-term] margin recovery story, we downgrade TGT to SW given increasing consumer headwinds over the next 12-18 months," wrote KeyBanc analyst Bradley Thomas, in a note. Specifically, the resumption of student loan payments represents a "sizeable" headwind for discretionary spending, according to Thomas.
Student loan repayments are slated to resume later this year. Under the terms of the deal to raise the debt limit, the pause in student-loan repayments will end by Aug. 30.
Target's (TGT) stock snapped its longest losing streak in 23 years last week. The company's shares ended Friday's session up 1.6%, outpacing the S&P 500 index's gain of 1.5%. Target's stock is down 0.8% in premarket trades Monday.
"Given the recent selloff in shares, we believe NT [near-term] downside may be limited, but we see the growing risk of student loan payments as likely pushing out the margin recovery story at least another year, thus pushing us to downgrade," wrote KeyBanc's Thomas.
Last week Target's stock was downgraded to neutral from overweight at JPMorgan, which cited "too many concerns rising" about the retail giant. Target could feel the impact when student-loan repayments resume, according to JPMorgan, which pointed to consumer spending pressures and the recent company controversies.
(Excerpt) Read more at morningstar.com ...
LOL...yeah, student loans resuming is the reason. What freaking idiots, huh?
Actually it was because Target stopped selling hate and the bank didn’t like it.
“LOL...yeah, student loans resuming is the reason. What freaking idiots, huh?”
They had to get out SOME talking point. Can’t EVER blame the lgbt militancy.
That’s right.
Target stock -$13,000,000,000 market cap in last month
130.30 USD
−2.93 (2.20%)today
-25.96 (-16.61%)past month
I cannot stop laughing at that reason. Holy cow (I am not Hindu LOL).
Did the bank lower the score on all businesses because of the student loan ‘problem’? Or do recent graduates only shop at Target?
There is a very simple explanation for all the corporations committing marketing suicide.
They expect most of us to be dead soon.
Dead people don’t buy anything.
What do they know that we don’t?
Planet X?
Hemorrhagic fever plandemic?
Conservatives are finally figuring out that we have a very powerful weapon that we can yield..
Our pocketbooks.
And the deep state and globalists don’t want us to know that we have this power...
That brings up a good question: How many of the “students” who owe for student loans, actually graduate?
I wouldn’t assume anything over 50%, although I could be way off.
Perhaps just slow starvation of the masses as farms and food processing facilities are shuttered/burned down/blown up to save the Erf.
The media sure is coming to rescue hard to save these clowns rep....lol
cnn.com/2023/06/02/business/target-stock-fact-check-lgbt-backlash/index.html
“Heres the real reason Targets stock is dropping”
A couple days ago, I went to “Michaels” (craft store) to pick up some stuff for Mrs. Mountain. Saw a whole bunch of rainbow-faggotry stuff just inside the door.
Walked back out, went to Hobby Lobby. Saw no faggotry, bought the stuff she wanted.
Money talks ...
I’d like to boycott Target but I seldom went there and completely stopped when they banned the bell ringers years ago.
What do they know that we don’t?
Read about what Target supports.
It is sickening to read about the hatred they have for this country.
Target backs org pushing US demilitarization, Mt. Rushmore shutdown for being a ‘symbol of White supremacy’
An organization funded by Target maintains views hostile to the US military, and seeks America to demilitarize itself
https://www.foxnews.com/media/target-backs-org-pushing-us-demilitarization-mt-rushmore-shutdown-being-symbol-white-supremacy
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.