Target stock jumps on activist stake report as investors eye next steps
Target shares rose 3.1% to $99.55 after a Financial Times report said Toms Capital Investment Management had taken a significant stake. The size of the stake and any demands were not disclosed. Traders are watching for filings or statements from the activist as Target prepares for a leadership change and year-end data. Target stock is down over 28% this year after three quarters of falling comparable sales.