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Mike Murphy Is Bullish On Target

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On CNBC's Fast Money, Mike Murphy said that he is a buyer of Target (NYSE: TGT). He thinks that the stock could break above $62 and when that happens, that price level will become a strong support.

He added that the Canadian segment of Target's business could be a catalyst for this breakout. Target Canada has been an absolute disaster and many people have written it off. Murphy said anything positive that the new CEO does on this segment could be a basis for rally.

Josh Brown is bearish on Target. He explained that the company is offering more promotions and it is not attracting more people. He also said that he is selling at this price level because the stock failed twice to break above $62 and he sees Wednesday's spike as temporary.

Target gained 1.82 percent and closed at $60.33.

Posted-In: Josh Brown Mike MurphyCNBC Long Ideas Short Ideas Fast Money Media Trading Ideas

 

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