reports that Target has amended their stats to now reflect 110 million affected by their recent security breach. Additionally, Target has cut its earnings outlook for the quarter that covers the crucial holiday season and warned that sales would be down for the period. And some analysts believe the breach could be a financial drag on the company for several more quarters. "This is going to linger like a black cloud over the company's financials for the first half of the year," said Brian S. Sozzi, CEO & chief equities strategist at Belus Capital Advisors.
Meanwhile, Target investors have been largely unmoved by the company's disclosures. Target's stock, while volatile, has traded at about $63 since news of the breach leaked on Dec. 18. It slipped just 72 cents, or more than 1 percent, to $62.62 in trading Friday. But some observers believe the stock could get battered if consumers stay away from Target stores, and several Wall Street analysts downgraded their earnings forecasts for the retailer on Friday.