- Target (NYSE:TGT) is down 9.3% in morning trading after profit guidance for the critical holiday quarter disappointed.
- While there's no getting around that free delivery, higher employee wages and promotional activity will drag on Target's Q4 bottom line -- bullish-leaning analysts still think that Target is heading in the right direction.
- "All-in-all, we believe Target is executing its strategic plan effectively," says Moody's retail analyst Charlie O'Shea. "Target has done a good job in trying to bring some new brands into the store and transform the operation a little bit, but it’s still the early days in that transformation," notes Tesley Advisory Group.
- Shares of Target are at their lowest level since late August. The yield to new buyers is now 4.56%.
- Sources: U.S. News and World Report and CNBC.
- Previously: Target slides after weak holiday quarter guidance (Nov. 15)
- Now read: 3 Dividend Stocks For Long-Term Investors
Original article