Target (TGT) disclosed a 3.7% decline in year-over-year comparable sales in its first-quarter earnings, sharing mixed results on the top and bottom lines.

UBS U.S. Hardline & Broadline and Food Retail Analyst Michael Lasser sits down with The Morning Brief to discuss the buying opportunities in the retailer's stock while consumers battle inflation and credit card debt.

"This is a wonderful buying opportunity. keep in mind that Target is still on pace to earn somewhere in the neighborhood of $9.50 this year, putting it well-positioned to earn $10 next year. If that's realistic, the stock is trading right now at 14 times that number. That is just too low a multiple," Lasser says. "Another way to think about it is Target's in a good spot to generate at least $4 billion of free cash flow this year, that it can distribute to shareholders in the form of share buybacks and dividends."

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Read more about Target's earnings here