Jim Cramer on Target: "I Am in a Wait-and-See Mode on This"

Target Corporation (NYSE:TGT) is one of the stocks Jim Cramer recently discussed. A caller who purchased TGT shares near its lows and is now facing losses amid the CEO transition and related uncertainty asked Cramer for his thoughts. He replied:

“Well, the stock’s down 33%. Now, I am in a wait-and-see mode on this. Why? Because I want to know this new CEO. I want to know what he’s cut out. I don’t know whether he is the right guy or not. I say we have to wait and see before I would possibly advise you to think that there’s more to buy.”

Target Corporation (NYSE:TGT) is a general merchandise retailer that provides apparel, beauty, food, electronics, home goods, and household essentials. Cramer discussed the stock in a July episode and 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.