NEW YORK (TheStreet) -- Shares of Target Corp. (TGT) are lower by 1% to $73.89 in late morning trading on Friday, as a U.S. District judge in St. Paul, MN, ruled that consumers can sue the retail giant over a 2013 data breach, that complainants say made their financial information vulnerable, Reuters reports.
The judge dismissed the claims of plaintiffs in some states, but for the most part denied Target's request to throw out the proposed class action lawsuit, Reuters added.
The judge rejected Target's assertion that the consumers did not have the right to sue since they could not prove any injury.
During the breach Target said at least 40 million credit cards had been compromised, Reuters noted.
"Plaintiffs' allegations plausibly allege that they suffered injuries that are 'fairly traceable' to Target's conduct," the judge said in his ruling, according to Reuters.
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Separately, TheStreet Ratings team rates TARGET CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TARGET CORP (TGT) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins."