Rachel Warren

Their long-term growth strategy remains intact.

They're planning to open anywhere between 350 and 370 new restaurants in 2026 alone.

And they're also really focusing on their international expansion in Europe, in the Middle East, across Asia.

They are accelerating that move through various partnerships they have.

I think that at its core, this is still a business that is also very strong financially.

The board's authorized an additional $1.8 billion in share repurchases as well.

I think that's a real sign of confidence that their long-term outlook, as well as their intended value to shareholders, holds.

This is still a profitable business.

Yes, they're seeing decreases in comparable restaurant sales.

I think a lot of that is a function of these factors I've mentioned.

But this is really very much a strong business that's dealing with cyclical headwinds, not so much structural issues.

So I think that maybe its current valuation could pose a really interesting value proposition to long-term investors.

I think there is.

You make a good point.

Target's performance as a business financially the last few years has certainly been nothing to write home about.

That's been true for the stock as well.

As it's now trading at this very low forward PE ratio of around 11, I want to stress, I don't think that this is a value trap.

This is still a company that maintains very robust fundamentals.

They have an A credit rating.

They have just a little under $5 billion in cash.