{"id":18599,"date":"2023-06-05T20:59:23","date_gmt":"2023-06-06T00:59:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/targets-stock-downgraded-by-keybanc-capital-but-its-not-because-of-its-lgbtq-merchandise\/"},"modified":"2023-06-05T20:59:24","modified_gmt":"2023-06-06T00:59:24","slug":"targets-stock-downgraded-by-keybanc-capital-but-its-not-because-of-its-lgbtq-merchandise","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18599","title":{"rendered":"Target\u2019s stock downgraded by KeyBanc Capital \u2014 but it\u2019s not because of its LGBTQ+ merchandise"},"content":{"rendered":"
\n

Target Corp.\u2019s stock was downgraded to sector weight from overweight by KeyBanc Capital Markets Monday amid consumer spending pressures, specifically the impact of student loan repayments.<\/p>\n

\u201cWhile we still believe in the LT [long-term] margin recovery story, we downgrade TGT to SW given increasing consumer headwinds over the next 12-18 months,\u201d wrote KeyBanc analyst Bradley Thomas, in a note. Specifically, the resumption of student loan payments represents a \u201csizeable\u201d headwind for discretionary spending, according to Thomas.<\/p>\n

\n

Student loan repayments are slated to resume later this year. Under the terms of the\u00a0deal to raise the debt limit, the pause in student-loan repayments will\u00a0end\u00a0by Aug. 30.<\/p>\n

Related:<\/strong>\u00a0Target\u2019s stock, on its longest losing streak in 23 years, downgraded at JPMorgan<\/p>\n

Target\u2019s
\n TGT,
\n -1.97%<\/bg-quote>
\n stock snapped its longest losing streak in 23 years last week. The company\u2019s shares ended Friday\u2019s session up 1.6%, outpacing the S&P 500 index\u2019s
\n SPX,
\n -0.20%<\/bg-quote>
\n gain of 1.5%. Target\u2019s stock is down 0.8% in premarket trades Monday. <\/p>\n

\u201cGiven the recent selloff in shares, we believe NT [near-term] downside may be limited, but we see the growing risk of student loan payments as likely pushing out the margin recovery story at least another year, thus pushing us to downgrade,\u201d wrote KeyBanc\u2019s Thomas.<\/p>\n

Last week Target\u2019s stock was downgraded to neutral from overweight at JPMorgan, which cited \u201ctoo many concerns rising\u201d about the retail giant. Target could feel the impact when student-loan repayments resume, according to JPMorgan, which pointed to consumer spending pressures and the recent company controversies.<\/p>\n

Related: <\/strong>Target\u2019s stock snaps longest losing streak in 23 years as anti-LGBTQ+ backlash continues<\/p>\n

Target has faced an intense\u00a0anti-LGBTQ+ backlash\u00a0against the company\u2019s Pride collection in recent weeks.<\/p>\n

Of 35 analysts surveyed by FactSet, 19 had an overweight or buy rating and 16 had a hold rating for Target.<\/p>\n

Additional reporting by Tomi Kilgore.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Target Corp.\u2019s stock was downgraded to sector weight from overweight by KeyBanc Capital Markets Monday amid consumer spending pressures, specifically the impact of student loan repayments. \u201cWhile we still believe in the LT [long-term] margin recovery story, we downgrade TGT to SW given increasing consumer headwinds over the next 12-18 months,\u201d wrote KeyBanc analyst Bradley […]<\/p>\n","protected":false},"author":1,"featured_media":14765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-18599","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nTarget\u2019s stock downgraded by KeyBanc Capital \u2014 but it\u2019s not because of its LGBTQ+ merchandise | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Target Corp.\u2019s stock was 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