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Target’s Stock Downgraded by JPMorgan Analyst Amid Backlash

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Target’s Stock Downgraded by JPMorgan Analyst Amid Backlash
People shop at a Target store in Chicago, Ill., on Nov. 25, 2022. Jim Vondruska/Reuters
Jack Phillips
By Jack Phillips
6/1/2023Updated: 6/1/2023
0:00

Target Corporation’s stock was downgraded to neutral from overweight Thursday by JPMorgan, which cited “too many concerns” with the retail giant.

Over the past 30 days, Target’s stock dropped some 18 percent amid calls for a backlash against the chain in connection to its decision to sell LGBT-themed items and clothes, including onesies for children and books instructing kids to use transgender pronouns. A number of social media users, starting in May, called on others to boycott the company.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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