Target Margins And Inventory Issues Raise Analyst Caution After Weak Q3 Performance

Target Corporation TGT shares are trading lower on Wednesday after it reported weak third-quarter results and slashed FY24 outlook.The company reported third-quarter adjusted earnings per share of $1.85, missing the street view of$2.30.For FY24, the company now forecasts adjusted EPS between $8.30 and$8.90, down from the previous guidance of $9.00 to$9.70. The revised FY24 EPS outlook is also below the consensus estimate of $9.55.Here are the analyst’s take on the earnings performance:JP Morgan analyst C ...