NEW YORK (TheStreet) -- Shares of Target Corp. (TGT) are flat in early morning trade after the company confirmed last night that a "glitch" in its system had caused delays at registers at some of its U.S. stores, but added that it is not in any way related to a data security issue or a hacker, the Minneapolis Star Tribune reports.
Target did not elaborate on the exact problem or problems, but said it would provide updates as they became available. It also was not immediately clear how many stores were affected by the glitch, the paper said.
TheStreet Ratings team rates TARGET CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TARGET CORP (TGT) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and poor profit margins."