Target marked new highs

Updated on:
Nov 21st, 2020

On Friday Target Corporation ($TGT) did it again and stock closed at $172.31 just changing a 0.55%; new all-time highs are set at $174.41.

Target got 4 new ratings from analyst firms on Thursday : MKM Partners marked up the price target to $156.00 (-9.47% versus the closing price) with a neutral rating, Morgan Stanley posted a hold rating and Raymond James raised the price target to $200.00 (16.07% over the closing price) with a hold rating. You must not use these ratings as a buy or sell advice for your personal financial decisions.

Last Wednesday, Target Corporation ($TGT) reported EPS for fiscal 3rd-quarter that highly improved Market expectations. Quarterly EPS was $2.79 per share vs the estimates of $1.60. This quarterly report means an earnings surprise of 74.38%. Estimated revenue for Q3 was $20.9 billion but Target slightly uplifted by 8.13%, posting $22.6 billion.

Since last April, Target has been drawing an uptrend that by now marked a gorgeous 93.85%. The chart shows higher highs and higher lows, and along the way provided some entry points for those who wanted to trade in. Latest low was in late October, when price bounced at $150.18. Target broke out above $166.73 (its last top) last Wednesday. That breakout was a good buy point

Target made a 7.9% over the past 30 days, outperforming the average growth of its competitors. In contrast, in the same period, Walmart (WMT) made a 4.4%, Costco Wholesale (COST) marked a 1.7%, Dollar General (DG) made a -1.8%, Dollar Tree (DLTR) performed a 0.4%, BJ's Wholesale Club (BJ) marked a 4.3% and Ollie's Bargain Outlet (OLLI) performed a -1.8%. Dollar Tree is presenting earnings report in the coming days.

Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings. It sells its products through its stores; and digital channels, including Target.com.. The stock is part of the Discount Stores industry in the Consumer Defensive sector. The firm employs 368,000 people worldwide and it's based in Minneapolis, United States. Its corporate website is http://corporate.target.com.

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