Travis Hoium

So it's different paying a 70 PE multiple for a company with 100 restaurants that could grow to 1,000 versus 1,000 restaurants and maybe it can grow to 2,000 or 3,000?

Is that the way?

It's a difference of scale?

When we come back, we're going to talk about a stock that is pretty cheap on a price-to-earnings basis, but maybe doesn't have the same growth opportunity.

That is Target.

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Rachel, Target stock is down 46% over the past five years.

It's fallen out of favor with investors and shoppers alike.

Some of the same-star sales comps are a little bit, sometimes it's negative a little bit, sometimes they're a little bit positive.

But overall, just nothing really impressive going on at Target.

But the stock trades for 11 times earnings.

Is there hope for a bounce back here?

You brought up Fidelke coming in as CEO and the changes that could potentially happen, but Fidelke was the COO before.

So everything that has happened in the last five years, his fingerprints are all over it.

Do you think there's actually going to be any meaningful change in the right direction, or is this just going to be more of the same?

John, when you look at a company like Target, it seems like there's opportunities.

You've got that high dividend.

But is there also potential risk there because of that valuation?

The market is telling us something.