Target shares look set to open on the downside after an analyst at Cowen & Co. this morning downgraded the stock to "underperform." The data breach may take a financial toll by forcing the company to incur charges and reshape its stock purchases and other shareholder policies. Cowen set a price target of $47, down 22% from Friday's close. The report also added: "We expect the company to suspend its buyback, a key support for the stock, indefinitely."
The company also yesterday notified customers in Canada that their financial and personal information may have been exposed in the data breach.