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Target, the Minneapolis-based retail giant, said it plans to open 150 stores in Canada. The Canadian expansion is not surprising to Steve Cortes, who said the Great White North has been "as hot as gang busters lately."
"Everybody wants to buy Canadian companies or expand into Canada," said the Veracruz founder, adding that the expansion isn't enough of a reason to buy TGT or retail in general.
Cortes been short the retailers since Black Friday and in that time, Target's stock is down about 1 percent while the S&P 500 has rallied roughly 100 points.
While Cortes would avoid retail names or short them, Drakon Capital's Guy Adami likes Target at current levels. He noted that both Target and Walmart trade at roughly the same price, but he likes TGT better.
Grasso said Target has bounced nicely off its 200-day moving average. He thinks you could buy TGT here.
---ANALYZE THIS: US FORECLOSURES TOP 1 MILLION MARK
Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, a leading firm said Thursday.
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