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Today's Research Reports on Stocks to Watch: Rite Aid and Target

NEW YORK, NY / ACCESSWIRE / June 16, 2017 / A poor performance from the Technology Sector dragged U.S. markets lower Thursday. The "FANG" stocks - Facebook, Amazon, Netflix, and Google (now Alphabet, Inc.) – slumped Thursday after Canaccord Genuity analyst Michael Graham downgraded Alphabet Inc. to "neutral" from "buy". The Dow Jones Industrial Average declined 0.07 percent to close at 21,359.90, while the S&P 500 Index dipped 0.22 percent to close at 2,432.46. The tech-heavy NASDAQ Composite Index fell 0.47 percent to close at 6,165.50.

"What's happening here is people are equating FANG to tech more broadly, and that's a mistake," said Michael Arone, Chief Investment Strategist at State Street Global Advisors. "About 74 percent of the tech sector are outperforming the market."

RDI Initiates Coverage on:

Rite Aid Corp.
https://ub.rdinvesting.com/news/?ticker=RAD

Target Corp.
https://ub.rdinvesting.com/news/?ticker=TGT

Rite Aid's stock moved 3.91% lower on Thursday, to close the day at $2.95. The stock recorded a trading volume of 19.13 million shares, lower than the average daily volume of 21.06 million shares. In the last year, Rite Aid Corporation's shares have traded in a range of $2.91 - $8.77. The stock is currently trading 66.36% below its 52 week high. The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $3.70 is below its 200-day moving average of $5.62. Shares of Rite Aid Corporation are trading at a Price to Earnings ratio of 737.50. Shares of Rite Aid have fallen approximately 64.2 percent year-to-date.

Access RDI’s Rite Aid Research Report at:
https://ub.rdinvesting.com/news/?ticker=RAD

On Thursday, shares of Target Corporation recorded a trading volume of 10.53 million shares, higher than the average daily volume of 7.85 million shares. The stock ended the day 4.15% lower at $55.46. The stock is currently trading 30.09% below its 52 week high with a 52 week trading range of $52.72 - $79.33.The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $55.93 is below its 200-day moving average of $62.11. Shares of the company are trading at a Price to Earnings ratio of 11.55. Shares of Target have fallen approximately 23.23 percent year-to-date.

Access RDI’s Target Research Report at:
https://ub.rdinvesting.com/news/?ticker=TGT

Our Actionable Research on Rite Aid Corp. (NYSE: RAD) and Target Corp. (NYSE: TGT) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com