Target stock could stay in the penalty box as the retailer aggressively sells slow-moving inventory and industry discounting picks up amid the economic slowdown, Jefferies analyst Stephanie Wissink warns.
Wissink, citing “profit warnings from peers & suppliers and pressure on discretionary wallets,” slashed her EPS estimates on Target for the balance of 2022 and 2023 in a new note on Monday.
“The cut to our model appears drastic at face value, fully discounting Target’s ability to bounce back…
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