Target Stock Is Down 30% Year to Date. Buy the Dip?
Is it time to buy shares, or could things get worse before they get better?
Target (NYSE: TGT) has seen its stock price tumble approximately 30% year to date, underperforming the broader market by a wide margin. Its disappointing financial results this year have raised questions about the retailer's ability to return to steady, meaningful growth. The company's challenges were especially put in the spotlight on Wednesday morning, when Target reported a decline in sales. Adding to the bad news, management said it no longer expects sales to grow this year.
While the results are discouraging, some investors may be wondering if the stock's steep pullback is a buying opportunity. After all, with shares down so sharply, could all of the bad news already be priced into the stock?
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