Target stock ticks up in premarket as activist stake report keeps pressure on turnaround
Target shares rose 0.3% to $99.87 in premarket trading Monday after reports that Toms Capital Investment Management built a stake in the retailer. Investors await details on the activist fund’s plans as Target prepares for a CEO transition in February. The stock has dropped over 28% this year after three straight quarters of falling comparable sales. Target said its priority is returning to growth; Toms Capital declined to comment.