retail
Weakness in Target Corp (NYSE: TGT) since late March is an opportunity to buy a quality name at a discount, as per analysts at Citi. Target stock has upside to $180The investment firm raised its rating on the retail behemoth this morning to “buy”. Its shares, the analysts are convinced, could climb to $180 or 13% from here. Citi turned bullish on Target stock today as its experts now see it on a stable path after a year or two of turbulence. We believe $TGT has emerged as one of the winners within the retail landscape with an opportunity to improve EBIT margin in years to come (particularly in...
Invezz
GameStop Corp (NASDAQ: GME) has gained more than 50% in recent weeks but the gain is far from sustainable, as per a Wedbush Securities analyst. GameStop stock could crash to $5.0Michael Pachter continues to rate the video game merchandise retail company at “underperform”. His $5.0 price objective suggests about a 60% downside from here. He remains super dovish on GameStop stock as it needs more than cost cuts to boost profitability. Pachter even forecasts the firm’s demise by 2029 if its revenue continues to sink at the current pace of up to $200 million. In late March, $GME reported its finan...
Invezz
Boohoo (LON: BOO) share price will be in focus this week as the company publishes its financial results which will provide more colour about its turnaround. The stock was trading at 34.45p on Monday, a few points above the year-to-date low of 32.02p. Boohoo earnings aheadBoohoo is expected to publish its trading statement on Wednesday this week. That is according to online platforms like Hargreaves Lansdown and TipRanks. Boohoo has not put the report in its financial calendar but in the past, it has published its interim results in May. These results are important because Boohoo is currently i...
Invezz
Home Depot, the popular home improvement store, is facing a severe issue with its rental department. Recent reports suggest that the store has fallen prey to several theft schemes, resulting in a loss of over $400,000. These allegations first surfaced through Court Watch, raising concerns about the store's security measures. Earlier this month, prosecutors in Oregon charged a group of seven defendants, accusing them of conspiring in a plot to steal hefty machinery from Home Depot. The scheme consisted of the accused renting and not returning the equipment. Instead, evidence suggests that the g...
IBTimes
Children’s Place (NASDAQ: PLCE) stock price continued crashing this week, moving to a low of $6.72, its lowest point since 1998. This is a sharp collapse for a company that was trading at $155.20 in October 2022. A $10,000 investment during its peak price would now be worth about $430. Short sellers have prevailedThe Children’s Place has become one of the worst-performing companies in Wall Street this year. Its stock has plunged by more than 71% this year and by over 77% in the past 12 months. This sell-off intensified after the company warned that it would delay publishing its annual report, ...
Invezz
eBay Inc (NASDAQ: EBAY) is in the red in extended hours today even though it came in ahead of Street estimates for its fiscal Q1. eBay stock down on muted guidanceThe stock is taking a hit primarily because the management failed to impress with its guidance. $EBAY now forecasts its revenue to fall between $2.49 billion and $2.54 billion on up to $1.15 of per-share earnings. Analysts, in comparison, were at $2.56 billion and $1.14, respectively. Jamie Iannone – the chief executive of eBay Inc said in a press release today: Our accelerating pace of innovation is fundamentally changing the sellin...
Invezz
Leggett & Platt (NYSE: LEG) stock price plunged by more than 37% on Wednesday as the company lost its dividend king status. It crashed to a low of $11.5, its lowest level since October 11th. It has plunged by over 76% from its highest level in 2021. $10,000 invested in the company during its peak would be about $2,200 today. Dividend king stumblesLeggett & Platt, a leading manufacturer of bedding components, home and work furniture products, and floor underlayment solutions, has lost its dividend king status. The company, which has boosted its dividends for 52 years, announced that it would sl...
Invezz
Walgreens Boots Alliance (NYSE: WBA) stock price has become a toxic wasteland. It crashed to a low of $17 on Wednesday, much lower than its all-time high of $71.50, a 76% plunge. Walgreens has lost $85 billion in valueIts market cap has plummeted from over $100 billion to about $15 billion, a move that has left it severely undervalued. Data by SeekingAlpha shows that the company spots a forward PE ratio of 5.50, which is lower than its five-year average of 8.46 and the sector median of 5.49. Walgreens Boots Alliance is not the only pharmaceutical company that is struggling. Earlier this week, ...
Invezz
MercadoLibre (NASDAQ: MELI) stock price will be in the spotlight on Thursday as investors focus on the company’s financial results. It has risen to a high of $1,485 from a low of $1,325, its lowest point since November last year. It remains in a bear market as it retreated by over 20% from its highest point in 2023. MercadoLibre earnings aheadMercadoLibre, the leading e-commerce and fintech company in Latin America, has been one of the fastest-growing firm in the industry. The company’s annual revenue has soared from $2.2 billion in 2019 to over $14.4 billion. Analysts believe that the company...
Invezz
San Francisco (AFP) - E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived. Amazon shares were up about one percent in after-market trades that followed release of the earnings figures, with Wall Street keeping a close eye on the impact of AI as well as costs involved. "It was a good start to the year across the business," Amazon chief executive Andy Jassy said in an earnings release. The Seattle-based company reported $10.4 billion in profit on revenue of $143.3 billion, compared with a profit of $3.2 billion...
AFP
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