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Vera Yuan
Vera Yuan
Articles (1063) 

Mairs & Power Growth Fund Comments on Target

May 22, 2015 | About:

On the other hand, last year the market thought the retail giant Target (TGT) could do nothing right while this year it can do nothing wrong (we disagree with both views). With all of its sales in the U.S., the company sources much of its merchandise overseas so the strong dollar boosts its buying power and margins. In addition, the company’s customers have benefited from lower gasoline prices. As a result, Target’s stock is hitting all-time highs. We view the stock as generously valued currently and have been using it as a source of funds to add to our positions elsewhere.

From Bill Frels (Trades, Portfolio)’ Mairs & Power Growth Fund Q1 2015 Commentary.


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