Jim Cramer on Target: 'You're Free to Buy It'
'If you believe in the company, you like shopping there, it's got a good balance sheet… then you're free to buy it. I happen to like TJX and Costco… TJX, breakout move today.'
A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels
Target (NYSE:TGT) is a general merchandise retailer that provides a wide range of products, including apparel, beauty, food, electronics, home goods, and household essentials. During a July episode, Cramer mentioned that he is a 'fan' of the company stock. He said:
'We are experiencing a hundred trillion dollar wealth transfer from baby boomers to Gen X, Y, and Zers, and they're cutting their teeth on stocks right now, doing just what I'm telling you. It's easy to spot housing wins extended to beaten-down stocks like the Target or Kohl's. I'm not a fan of Kohl's, but I am a fan of Target. And the new buyers, the people who aren't trapped by Fed dogma, know that there's fundamental worth to Target, and it's probably higher than here. You don't need to worry about what that… worth truly is yet because we're nowhere near when Target reports.'
While we acknowledge the potential of TGT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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