Ackman says has raised stake in retailer Target
NEW YORK, Nov 28 (Reuters) - Hedge fund manager William Ackman said on Wednesday that he has increased his stake in No. 2 U.S. discount retail chain Target Corp (TGT.N).
In July, Ackman said his fund owned a 9.6 percent stake in Target and he wanted to speak with management about trying to boost the No. 2 U.S. discount retailer's stock price.
Since then, Target has said it is weighing a sale of its credit card assets.
Ackman, speaking at a conference in New York, said his activist hedge fund Pershing Square Capital Management has raised its stake in Target since its last regulatory filing.
He also said he has "enormous respect" for the retailer's management and is confident Target will make the right decision on its credit card business. (Reporting by Nicole Maestri and Michael Flaherty, editing by Gerald E. McCormick)
