Target Stock (NYSE: TGT) Jumps on Activist Stake Report — What Investors Need to Know Before Monday’s Open
Target shares rose 3.1% to $99.55 Friday after reports that Toms Capital Investment Management has taken a stake in the company. The rally came as broader U.S. indexes slipped and trading volume remained light. The size of TCIM’s stake and its intentions were not disclosed. Incoming CEO Michael Fiddelke takes over in February amid ongoing sales pressure.