NEW YORK (TheStreet) -- Shares of Target (TGT) are currently lower after initially being helped by an upgrade from Goldman Sachs.

TheStreet's Jim Cramer said that at first he thought the Goldman upgrade -- to buy from hold -- "silly" after the company announced its sales were lower than expected and the credit card hacking situation was much worse than everyone had initially thought. 

"Sometimes research looks so wrong, yet it turns out to be right," he said. 

The Goldman Sachs reports said sales will go down -- which they did, as TGT announced Friday -- but it will be a "trough quarter." In other words, this should be the bottom. 

He concluded, "I'm not a big fan of Target, but I can see it trading to $65." It is currently trading around $62.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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