Target Under Pressure From Discretionary Spend Slowdown, Mounting Inventory Risk, Goldman Sachs Downgrades Stock
1. Goldman Sachs downgraded TGT from Buy to Neutral. 2. Price forecast lowered from $142 to $101 due to slowing growth. 3. 53% of sales linked to vulnerable discretionary items. 4. First-quarter sales softness impacts FY25 earnings projections. 5. Foot traffic decreased 5.4% YoY, signaling declining consumer sentiment.