Jim Cramer on Target: “You’re Free to Buy It”

Target Corporation (NYSE:TGT) is one of the stocks on Jim Cramer’s radar. During the lightning round, when a caller expressed worry about the company, Cramer stated:

“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.”

Jim Cramer on Target: "You’re Free to Buy It"

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.”

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Disclosure: None. This article is originally published at Insider Monkey.