Jim Cramer: Target Is Undervalued

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer thinks shares of retail giant Target (TGT) are headed higher. ‘Who is the fastest growing online or offline company when it comes to digital? The answer is not Amazon (AMZN) – it’s Target,’ Cramer said. ‘That’s because [CEO] Brian Cornell has reinvented the chain.’ He also said Target’s comparable store sales in the swim and children’s department are huge. ‘I believe Target is substantially undervalued,’ he added. Target is a holding of Cramer’s aforementioned charitable trust, Action Alerts PLUS. Shares of Target added 14.5 percent since the start of the year.