It'll probably go down lower. Price action due to downgrade, not short. Most people do puts anyway.
Cowen cut its rating on the company's stock to "Underperform" from "Market Perform" and reduced its price target to $47 from $66.
ehh depends on your time frame and how much drop from here. Shorts have made quick money on the botched cc issue and may not be much more room to the downside as things are priced in. The lowered guidance and lowered expectations for the 4th quarter already put out. TGT price action against todays tape suggests the easy money on this is over., do not think you get anywhere near a 47 range. Expect some churn, cover and rise into earnings unless overall market just really corrects.