Analysts say incoming CEO Michael Fiddelke “deserves a chance to prove himself,” though it could take time and more money for Target to get its charm back

Target Corp. named veteran Michael Fiddelke as its next chief executive officer, betting that the insider will revive the storied retailer struggling with weak sales.

Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Target Corp. is leading the S&P 500 index’s decliners after the discount retailer announced that Chief Executive Brian Cornell is stepping down next year, to be replaced by the company’s Chief Operating Officer Michael Fiddelke.

Target's Q2 earnings beat estimates, but profitability remains under pressure with declining margins and net income down over 20%. Click for my TGT update.

Target announced it was replacing CEO Brian Cornell with 20-year company veteran Michael Fiddelke, and shares plunged.