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…