Target Stock Gathering Attention Ahead Of Earnings
Target will report second-quarter earnings before the market opens on Wednesday, August 20. The stock has finished its last three consecutive post-earnings sessions lower, including a 21.4% drop in November. This time around, earnings and revenue are both expected to decline year-over-year, and the options pits are pricing in a stock move of 10.9%, regardless of direction.
Yesterday, Target stock was downgraded to "underperform" from "neutral" at Edgewater Research, while Truist raised its price target to $17 but maintained its "hold" rating. Quite a few of the brokerages in coverage are of a similar stance, with 19 carrying a "hold" rating, 12 a "buy," and three a "strong sell." Meanwhile, the 12-month consensus price target of $105.68 sits at a slim 1.8% premium to current levels. In other words, the equity is ripe for overdue downgrades and/or price-target cuts.
Though calls are still winning out on an absolute basis, puts have been more popular than usual in the options pits. TGT's 50-day put/call volume ratio of 0.94 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 90% of readings from the past year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a few seconds ago
- Yahoo
U.S. Senator Hawley launches probe into Meta AI policies
By Jody Godoy (Reuters) -U.S. Senator Josh Hawley launched a probe into Facebook parent Meta Platforms' artificial intelligence policies on Friday, demanding documents on rules that had allowed its artificial intelligence chatbots to 'engage a child in conversations that are romantic or sensual.' Both Democrats and Republicans in Congress have expressed alarm over the rules outlined in an internal Meta document first reported by Reuters on Thursday. Hawley, a Republican from Missouri, chairs the Senate subcommittee on crime and counterterrorism, which will investigate "whether Meta's generative-AI products enable exploitation, deception, or other criminal harms to children, and whether Meta misled the public or regulators about its safeguards," he said in a letter to Meta CEO Mark Zuckerberg. "We intend to learn who approved these policies, how long they were in effect, and what Meta has done to stop this conduct going forward," Hawley said. Meta declined to comment on Hawley's letter on Friday. The company said previously that "the examples and notes in question were and are erroneous and inconsistent with our policies, and have been removed.' In addition to documents outlining those changes and who authorized them, Hawley sought earlier drafts of the policies along with internal risk reports, including on minors and in-person meetups. Reuters reported on Thursday about a retired man who died while traveling to New York on the invitation of a Meta chatbot. Meta must also disclose what it has told regulators about its generative AI protections for young users or limits on medical advice, according to Hawley's letter. Hawley has often criticized Big Tech. He held a hearing in April on Meta's alleged attempts to gain access to the Chinese market which were referenced in a book by former Facebook executive Sarah Wynn-Williams.
Yahoo
a few seconds ago
- Yahoo
Circle Internet Group (CRCL) 'Does Not Like My Analysis,' Says Jim Cramer
We recently published . Circle Internet Group (NYSE:CRCL) is one of the stocks Jim Cramer recently discussed. Circle Internet Group (NYSE:CRCL)'s shares have gained 84% year-to-date due to its place in the stablecoin industry and favorable legislation for the digital tokens. However, the stock is down by 25% over the past month on the back of several catalysts such as the firm's announcement to raise capital through a share sale. Cramer's previous comments about Circle Internet Group (NYSE:CRCL) have outlined that while it does have the benefit of being an early mover in the industry, the lead might not last due to no competitive advantage. He maintained the sentiment this time as well: 'Well I just think, I still believe and I know that Circle, does not like my analysis, necessarily. They're . .actually very forthcoming guys and they have a good rap. But, I just think that other companies can do it. They do, David, have a tremendous first mover advantage. And it does matter. Coinbase did too, I mean it's just first mover advantage. Here are his previous thoughts about Circle Internet Group (NYSE:CRCL): 'Next up, the larger deal was Circle Internet Group. The IPO market was starting to heat up… by the time Circle came public in early June. But even though Circle upsized its deal significantly and raised its offer price range and then still priced well above the high end of the range, it wasn't ambitious enough. Deal priced at 31, but the stock opened for trading at 69. Within three weeks, it was nearly at 300. It's since cooled off around, they've come down to 165, but that's still probably way too high. I think winners from CoreWeave rolled their take into Circle and turned it into a meme stock.' While we acknowledge the potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
a few seconds ago
- Yahoo
Canadian PM Carney to visit Mexico in September to boost trade, Bloomberg News reports
(Reuters) -Canadian Prime Minister Mark Carney will visit Mexico on September 18 to meet with President Claudia Sheinbaum and discuss strengthening trade ties and supply chains amid U.S. tariffs, Bloomberg News reported on Friday, citing a person familiar with the matter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
