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Jim Cramer Backs Target Under New Management
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Television host Jim Cramer said he is a 'believer' in Target Corporation's new management after the retailer reported a better-than-expected quarter recently, prompting analysts to raise price targets and two firms to upgrade the stock. Cramer cited plans from new CEO Michael Fiddelke, improving same-store sales and margins, and noted Target trades at about 15x forecasted earnings versus Walmart's ~44x and Costco's ~50x.
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