Target shares hit three-year low, JPMorgan downgrades stock

Target shares took another leg down on Thursday as more troubles mount for the retailer. 

Shares are on pace for the longest losing streak in 23 years and headed for a 10th straight session of losses, approaching a three-year low of $126.75.

JPMorgan Chase & Co. downgraded Target stock on Thursday from "overweight" to "neutral," with analysts citing the possibility of a decline in sales due to consumers pulling back spending amid persistent inflation.