Why Target (TGT) Shares Are Falling

Target Corp TGT shares are trading lower by 2.64% to $127.80 going into the close of Friday's session. The stock is trading lower after Citigroup downgraded shares from Buy to Neutral.

See Also: Target's Margins Could Be Hit By Student Loan Payment Resumption, Says Analyst

Target shares have also fallen some 19% over the trailing month due to ongoing weakness prompted by calls for a social media boycott.

So What's Happening With The Recent Boycott?

In response to customer backlash, Target recently made the strategic decision to withdraw specific products from its Pride Collection, as reported by Reuters. This action was taken by the retailer to prioritize the safety of its employees.

Target's inclusive Pride Collection consists of a wide assortment of 2,000 products, encompassing clothing, books, music, and home furnishings.

Despite its history of actively commemorating Pride Month, the retailer has garnered increased attention on social media platforms this year...Read More

According to data from Benzinga Pro, TGT has a 52-week high of $183.89 and a 52-week low of $126.75.