Stifel Nicolaus Analyst Thinks That Target Corporation Is A Buy

David Schick of Stifel Nicolaus spoke on CNBC's Fast Money about Target Corporation TGT and the reasons why he has a price target of $76 for the stock. He said that the macroeconomic conditions for consumers are better. Wage growth is now 2 percent and gas prices have declined 8 percent year over year. Schick believes that Target Corporation is doing right things to improve its business model. The company is increasing number of items in Canada from 55,000 to 70,000 which should attract more customers. Schick thinks that next week's earnings report will be a catalyst that could move the stock higher, but his main focus is on the fourth quarter and next year.