Sluggish Sales and a Change in CEO: Is Target's Stock Destined to Go Lower?
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This year has been a tough one for many retailers, with global tariffs and trade wars raising costs and creating plenty of uncertainty. Consumers, meanwhile, have been cutting back on discretionary spending as they look to tighten up their budgets.One retailer that has felt the effects of this in a significant way is Target (NYSE: TGT), whose sales have been stagnant. And over the past 12 months, its valuation nosedived by 37%. Its performance has been so bad that the stock is trading around the levels it fell to during the brief market crash in 2020.The trouble is, it may not necessarily be due for a rally just yet, even despite its beaten-down valuation. And the company recently announced a new CEO, which investors and analysts aren't convinced will rectify the situation. Could Target's stock be headed for even more of a decline in the future, or is it a worthwhile contrarian pick to add to your portfolio today?Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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