Target’s shares are down 65% from their peak. Things look bleak - earnings per share are expected to remain flat this year, and the price-to-earnings ratio has dropped to just 10.5. So why consider buying the stock? Because Target has a turnaround plan. The company expects to generate at least $15 billion in additional sales over the next five years. At today’s prices, the stock looks like a bargain. If the plan works, the stock could not only rebound but also become a strong long-term investment. I’m definitely buying some.
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