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4 Reasons Target Soared to an All-Time High

TheMotleyFool

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4 Reasons Target Soared to an All-Time HighPhoto, wide shot, wide-angle lens, Hotel, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/d14bb504-852b-4d13-a69a-8cec9d4eb799.png

Target (NYSE: TGT) has been a divisive stock in recent years. The bulls claimed that its scale and digital growth would help it stay relevant in the shifting retail market, while the bears warned that it could still struggle to keep pace with Amazon.com and Walmart.

However, Target's stock recently surged past $100 per share to an all-time high after its second-quarter report, which silenced the bears and attracted a stampede of bulls. Its revenue rose 4% annually to $18.4 billion, beating estimates by $100 million, as its adjusted earnings jumped 24% to $1.82 per share -- also topping expectations by $0.20.

Image source: Target.

Source Fool.com

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