Investors are panicking as the Federal Reserve prepares to raise interest rates to cool off inflation. The Nasdaq entered correction territory, defined as a 10% pullback from a previous peak, and the Dow Jones Industrial Average and the S&P 500 were hovering on the brink of that this week, showing every sector is getting hit. Target (NYSE: TGT) has arguably performed better than any brick-and-mortar retailer during the pandemic, but the stock still looks cheap at a price-to-earnings ratio of just 16.
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