Target (TGT) NewsBite - Target's August Same-Store Sales Fall 2.1%

Posted on Thursday, September 04, 2008 3:32 PM

Target (NYSE: TGT) opened at $54.06. So far today, the stock has hit a low of $53.84 and a high of $55.83. TGT is now trading at $54.10, down $0.91 (-1.65%). The stock hit its 52-Week high of $68.50 in September and set its 52-Week low of $42.32 in July. Target announced today its August sales at stores open at least one year fell 2.1%. Analysts, on average, had expected same-store sales to fall 2.6%. Technical indicators for the stock are neutral and S&P gives TGT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TGT the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 57.50 range. [ABR-Seven Summits Strategic Investments NewsBite]