Target (TGT) Struggles While Tesla (TESLA) Sees Strong Density Outlook

Keybanc downgraded Target (TGT) to sector weight from overweight. Jenny Horne disusses this as Keybanc believes in recovery for TGT, but sees increasing consumer headwinds. Keybanc lowered 2023 and 2024 earnings estimated for TGT. Jenny also talks about Tesla (TSLA) as Citi says that TSLA's 2023 U.S. vehicle density survey pointed to a "surprisingly strong density outlook" and suggests recent auto demand resilience "reflects a genuine increase in wallet share." Tune in to find out more about the stock market today.