Target is still not recovering from suffering a boycott after it was outed for selling transgender clothing aimed at America’s infants and tiny tots. And last week it suffered its worst financial fall yet.
Target’s stock has been hit with one downgrade after another. And last week that stock fell once again. The stock had already faced two downgrades. And now it has experienced a third.
Analysts including Paul Lejuez from Citi Bank moved Target from a “buy” to “neutral” status, the stock’s worst rating yet. Lejuez added that at this point, Walmart will begin taking Target’s customers.
Per Fox Business:
Considering the competitive landscape, “We believe Walmart is likely to continue gaining market share, and Target’s high exposure to discretionary sales will not serve them well in the current macro backdrop,” Lejuez said in the note.
“Despite the recent stock pressure, we cannot recommend investors buy the stock given these dynamics and now believe the risk, reward is more balanced, but risk is more to the downside near term,” he continued.
Lejuez also noted that with the boycott in full swing, Target has lost 13.9 percent of its in-store traffic as May ended.
Meanwhile, Target stock has fallen by 3.1 percent over the five days of last week.
— Dr. Nickarama (@nickaramaOG) June 10, 2023
Target has also lost $15 billion in market capitalization, going from 74.29B on May 17, to 58.61B on June 9.
— Dr. Nickarama (@nickaramaOG) June 10, 2023
Thus far, Target has done nothing to reverse the trend. They are still spending millions to push radical transgenderism on our children. But if the boycott continues, they may be forced to react.
They are trying to wait it all out. It is up to us to make sure they can’t wait any more.
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