Target's Q2 Struggles Highlight Amazon, Walmart Competition
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Target Corp's stock fell 7.72% to $97.25 following its Q2 earnings report, which showed adjusted earnings of $2.05 per share and a 1.9% decline in same-store sales. Analysts from BofA and JPMorgan provided mixed ratings, with BofA maintaining an Underperform rating and JPMorgan a Neutral rating. The departure of CEO Brian Cornell and the appointment of COO Michael Fiddelke were noted, indicating a focus on discretionary categories to compete with Amazon and Walmart. Target maintained its full-year guidance despite the mixed results.
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