Why Dollar General's Stock Jumped On Wednesday
It's been a tough year for Dollar General (NYSE: DG) shareholders. Despite the rebound from October's multi-year low the retailer's stock still trades down 52% from last November's high.
Wednesday's advance does a great deal to cement the current recovery effort in place, however. Although the intraday gain has since pared back a bit from its peak of 5.6%, the two key underpinnings of the move suggest Dollar General shares could keep rallying.
At least some of the credit for Wednesday's market-beating gain from Dollar General belongs to rival retailer (NYSE: TGT). Although its sales are still declining, Target's third-quarter top line of $25.4 billion beat estimates of $25.3 billion. Per-share earnings of $2.10 were well up from the year-ago bottom line of $1.54, easily topping estimates of $1.47. These Q3 figures sparked a wave of bullish interest in most retail stocks.
Source Fool.com
Target Corp. Stock
Our community is currently high on Target Corp. with 33 Buy predictions and 12 Sell predictions.
However, we have a potential of -8.32% for Target Corp. as the target price of 119 € is below the current price of 129.8 €.
