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Jim Cramer Took A Side On Biggest AI Debate & Discussed These 13 Stocks. Target Corporation (NYSE:TGT) is one of the stocks discussed by Jim Cramer.
Merchandise retailer Target Corporation (NYSE:TGT)’s shares are up by 35% over the past year and by 25% year-to-date. Wells Fargo discussed the firm on May 12th as it raised the share price target to $140 from $135 and kept an Overweight rating on the stock. The bank commented that Target Corporation (NYSE:TGT) could post a strong set of first-quarter earnings results and provide investors with an upside surprise and a guidance raise. Barclays also raised the share price target to $115 from $108 on the back of an improving sales environment. Target Corporation (NYSE:TGT)’s earnings saw its $25.4 billion in revenue and $1.71 in earnings per share beat analyst estimates of $24.64 billion and $1.46. Cramer discussed the firm following the report:
“Great numbers. . .okay so they thought it was very important, I think, to give conservative guidance. . .last year was the Nintendo Switch launch, they had a fantastic Nintendo Switch launch, so it’s going to be very difficult. 4% net sales growth, guidance, reflects some moderation from Q1. . .but you gotta remember, two percentage points higher than our initial guide, which is what I care about. They just, they’re tamping down things. . .underpromise, overdeliver. I want to buy the weakness. I think Target is in a major turn. A lot of it has to do with a complete change in merchandise. . .this is a fabulous turn. . .my favorite thing, no buyback, pouring the money into stores, pouring, the stores look terrible. Some of them hadn’t been done in a decade. That’s no longer acceptable for management. And I like this management.
“I was going over fashion with them. . .they have just blown up the product line. It is so much better than even a year ago. So don’t lose faith on that conservative guidance. They have it now. Now are they the old target? I mean everyone thinks they’re a shadow of their former self. It doesn’t have to be like that.”
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