NEW YORK (TheStreet) -- Shares of Target Corp. (TGT) - Get Report are down by 2.05% to $81.89 in mid-morning on Thursday, after the Minneapolis-based retailer's stock rating was lowered to "underweight" from "overweight" at Barclays.
"This is not the retailer to sell," TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning, adding that the downgrade was simply to "make a splash."
Target CEO "Brian Cornell delivered a remarkable quarter and this guy comes out and puts a 'sell' on it," Cramer observed. "We are going to look back on it and say that it was a bad call."
Target has performed well, especially when it comes to online sales growth that even exceed growth from e-commerce giantAmazon.com (AMZN), Cramer added.
"Mr. 'underweight' is giving you a gift here and you should take it," Cramer concluded.
(Targetis held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)
Separately, Target has a "buy" rating and a letter grade of A at TheStreet Rating because of the company's notable return on equity, attractive valuation levels, solid stock price performance, impressive record of earnings per share growth and largely solid financial position with reasonable debt levels by most measures.
You can view the full analysis from the report here: TGT
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.