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Cramer scoffs at Target’s sharp decline, calls the stock a better buy than Walmart

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CNBC’s Jim Cramer said Target, like Walmart a day earlier, should not be trading lower because the big-box retailer’s quarterly results on Wednesday were “terrific.”

“It is just a conundrum to see Target down $12 [or roughly 5%],” Cramer said, referring to the stock’s premarket decline at the end of “Squawk Box.” Target shares opened down about that much.

“The one that probably makes the most sense to buy is Target,” he said. “As they come down, Target is a better buy than Walmart, which my charitable trust owns. We sold some higher. I just think Target said nothing that makes it so it merits being down this much,” he added.

Target reported third-quarter earnings and revenue that topped…



Source cnbc.com

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