Credit rating agency Fitch Ratings in a release on Monday said that it does not expect any rating implications after Target’s data security breach.
“Fitch believes the data breach is a manageable issue, although the disclosure that additional personal data has stolen … may further erode customer confidence,” the agency said.
Fitch has ‘A–’ ratings on Target for its long-term issuer default rating, senior unsecured debt and bank credit facility.
Stratasys forecast crimps shares
Shares of Stratasys Ltd. fell 8.2 percent Tuesday after the maker of 3-D printers announced its outlook for 2014. The company predicted that while sales would grow 40 percent, earnings would grow only 22 percent.
The company’s adjusted earnings forecast was $2.15 to $2.25 per share, while analysts had been expecting $2.33 per share. Stratasys’ revenue forecast was higher than analysts’ expectations.
Canaccord Genuity analyst Bobby Burleson told the Star Tribune, “Some investors just don’t like to see earnings growth basically staying where it is while revenue growth is strong.”