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'Halftime Report' Traders Discuss MKM's Sell Rating On Target

'Halftime Report' Traders Discuss MKM's Sell Rating On Target

On CNBC's "Fast Money Halftime Report", Kourtney Gibson, Stephen Weiss and Pete Najarian criticized MKM Partners' decision to initiate Target Corporation (NYSE: TGT) with a Sell rating. This is the only "Sell" rating for the stock and other analysts also have a higher price target than MKM's $105.

Gibson doesn't think this is the right call. She believes Target is doing a phenomenal job in adjusting to COVID-19 and she would hold the stock. If it drops to $105, she would buy more.

Weiss read the report and he disagrees with it. The company is building an incredible online presence and it is doing everything it needs to do to be a survivor and a leader in this situation, said Weiss.

Najarian finds some of the things in the report odd. He doesn't agree that Target has an aging store fleet, because it has invested $7 billion to upgrade its stores. He is optimistic about the stock because of a strong quarter and the stock did not behave on Thursday as a stock that has just received a "Sell" rating.

Najarian also thinks Target is better than its peers, because it has better growth and it will have better margins.

Latest Ratings for TGT

Aug 2020BMO CapitalMaintainsOutperform
Aug 2020Morgan StanleyMaintainsEqual-Weight
Aug 2020DA DavidsonInitiates Coverage OnBuy

View More Analyst Ratings for TGT
View the Latest Analyst Ratings


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Posted-In: CNBC Fast Money Halftime Report Kourtney Gibson Pete Najarian Stephen WeissAnalyst Ratings Media

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