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Target Corp. said Tuesday it will continue to hold off on share repurchases until cash generation increases to a pace that is consistent with the retailer’s goal of maintaining a strong credit rating.
The discount retailer TGT hasn’t repurchased any shares since the second quarter of 2022. There is is currently $9.7 billion remaining in the $15 billion share-buyback program that was approved in August 2021. The remaining authorization represents about 12.3% of Target’s current market capitalization of $78.77 billion.
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