PRIDE Scandal Stripped Target of More than $13 Billion in Market Value

In the wake of public backlash to Target’s PRIDE collection, the retail giant has lost more than $13 billion in market value. 
On Monday the company stock fell by another 2.03 percent, Fox Business reported. KeyBanc Capital Market downgraded Target’s shares from overweight to sector weight.

“This means that KeyBanc no longer expects Target’s stock to outperform the market, and investors should avoid overweighing their portfolios with Target shares,” Yasmim Mendonça of Best wrote.
Analysts attributed Target’s stock decline to student loan payments being resumed — a condition in the Congress’ debt ceiling agreement, Fox Business …