Tariffs Send Target Stock to Covid Lows

Market Overview - Wall Street is experiencing significant declines, with the SPDR S&P Retail ETF (XRT) down 8.7% at $65.24, heavily impacted by one of its major holdings dropping over 10% [1] Company Performance: Target Corp - Target Corp (NYSE:TGT) stock has decreased by 11.6%, trading at$ 93.92, and previously hitting a five-year low of $93.26. The stock has shown a pattern of lower lows, with seven consecutive weekly losses leading into April, and is on track for an eighth [2] - Year-to-date, Target's equity is down 30%, and it has experienced a 46% decline year-over-year [2] Analyst Ratings - Despite the stock's poor performance, analysts have not yet revised their ratings. Out of 33 brokerages covering Target, 16 maintain a "buy" or better rating, with only one "sell" rating. The consensus 12-month price target is$ 135.13, indicating a 44% upside potential from the current price [3] Options Market Activity - Options traders are currently focused on call options, with a 10-day call/put volume ratio of 3.47, nearing an annual high [4] - However, there is a notable shift towards put options today, with over 43,000 puts traded, which is four times the average intraday volume. The most popular option is the weekly 100-strike put, along with new positions being opened at the June 80 put [5]