Target shares hit three-year low, JPMorgan downgrades stock

Posted on AllSides June 1st, 2023
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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.

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