Filed under: Bad news, Industry, Target Corp. (TGT), Options, Technical Analysis, Economic data

Target Corp. (NYSE: TGT) stock is falling this morning on news that January chain-store sales could be flat or even decline from a year earlier. Michael Niemira of The International Council of Shopping Centers said on Sunday that he expects weakening demand, stoked by consumers’ fears of a recession, to push sales numbers down to near-record lows since the ICSC began tracking sales in 1969. If you think this stock won’t be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on TGT.

After hitting a one-year high of $70.75 in July, the stock hit a one-year low of $47.01 last month. This morning, TGT opened at $57.17. So far today the stock has hit a low of $55.47 and a high of $57.32. As of 11:00, TGT is trading at $55.72, down $1.33 (-2.3%). The chart for TGT looks neutral and improving, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

Continue reading Target (TGT) pushed lower by retail concerns

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This entry was posted on Monday, February 4th, 2008 at 5:48 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.