VIDEO: Broker Cuts Target Earnings Outlook After Data Theft

Brokerage firm Cowen and Co cut its earnings forecast on Target after the massive theft of card data over the holiday season, saying the breach was likely to drive away customers and impact margins as the retailer increases discounts. Investors have so far downplayed the impact from hackers who stole data on up to 40 million credit and debit cards from Target shoppers during the first three weeks of the holiday season.

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