Following Thursday's 2 percent drop, shares of Target TGT are down an additional 1.5 percent to $70.78 in late-morning trade Friday.
Citing a tough near-term spending environment and challenging industry traffic trends, Piper Jaffray analyst Sean Naughton lowered the following estimates:
Market News and Data brought to you by Benzinga APIs- Q2 comp. sales growth estimate from 2.5 percent to 1.5 percent;
- Q2 adjusted EPS estimate from $1.15 to $1.09;
- CY13 adjusted EPS from $4.86 to $4.75; and,
- CY14 adjusted EPS estimate from $5.71 to $5.52.
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