Since the backlash, Target's market value has fallen over $13 billion to $60.24 billion as of Monday's closing price. Target’s market value was over $74 billion before the polarizing Pride displays made national news.
JPMorgan Chase & Co. downgraded Target stock last week from"overweight" to"neutral", with analysts citing the possibility of a decline in sales due to consumers pulling back spending amid persistent inflation. Last month, Target confirmed"adjustments" to the Pride merchandising plans were underway after Fox News Digital learned it rolled back displays at some of its locations.
Target has pulled some of its Pride Month merchandise from stores or moved the seasonal displays to lesser seen areas to avoid a"Bud Light situation". Picture: Justin Sullivan/Getty Images