Retail

Target gives investors ‘great’ chance to buy after strong 2019

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Investors might want to take their shot at Target.

One of 2019’s best-performing retail stocks with an impressive 94% annual gain, Target is off to a rocky start in 2020, plunging over 6.5% on Wednesday after reporting weaker-than-expected holiday sales. That brings Target’s total year-to-date loss to roughly 9%.

Macy’s stock, which ended 2019 with a 43% loss, seems to be turning around, outperforming the SPDR S&P Retail ETF (XRT) year to date with a 2.5% gain. The XRT, which tracks the broader retail sector, is down about 1.5% in 2020.

Nancy Tengler, chief investment officer at Laffer Tengler Investments, said she would stick with Target.

“As a value manager, I really want to like Macy’s…



Source cnbc.com

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