Jim Cramer Says “Target Has Been a Standout”

Target Corporation (NYSE:TGT) made our Mad Money recap, as Jim Cramer shared his take on the stock and highlighted resilient consumer spending despite the Iran conflict. Cramer highlighted the company’s performance as he said:

Target has been a standout. I was concerned that it might give up the ghost since the war with Iran started, but the stock’s really hung in there. It’s up nearly 18% for the year. A nice beginning for new CEO Michael Fiddelke.

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Target Corporation (NYSE:TGT) is a retailer that sells clothing, beauty items, groceries, electronics, home goods, and everyday essentials. Cramer showed positive sentiment toward the new management during the March 4 episode, as he stated:

Yesterday, we got a much better than expected quarter from Target, which had been struggling for years, but it’s now under new management… Overnight, every analyst that covers the company seemed to be raising their price targets, and two different firms upgraded the stock… So, have I become a believer in Target under new management? Honestly, yes, I am a believer. I couldn’t leave her if I tried, at least for now. The new management team will have to deliver on the promises that it made yesterday, and I’ll need to see some same-store sales turn positive, along with continued margin improvement and legitimate earnings growth, before fully buying in.

We recently covered the stock while discussing the top-performing consumer staple stocks in February. You can read more about it here.