Why Target Stock Gained 17% in November
Target (NYSE: TGT) stock trounced the market last month by jumping 17% compared to a 3.4% boost in the S&P 500 index, according to S&P Global Market Intelligence. The rally added to significant gains for shareholders of the retailer, with the stock up over 80% so far in 2019.
Image source: Getty Images.
November's boost was powered by a solid earnings report from the company that came just before the start of the core holiday shopping period. Target said early in the month that sales growth remained near a decade-high thanks to booming e-commerce demand, especially for ultra-fast fulfillment options like next-day and same-day delivery. These successes are also helping lift profitability, since shoppers are eager to pay up for instant gratification.
Source Fool.com
