Why Target Stock Just Jumped 12%
Target (NYSE: TGT) stock exploded 12% higher through 11:15 a.m. after the company beat Wall Street analyst forecasts for second-quarter sales and earnings Wednesday morning.
Heading into the quarter, analysts forecast Target would earn $2.18 per share on sales of $25.2 billion -- but Target beat those forecasts with a stick. Sales were $25.4 billion, while earnings came in at a strong $2.57 per share.
Target reported a 3% gain in Q2 sales year over year, including a 2% gain in same-store sales. What really made the difference was e-commerce sales. Those grew nearly 9% year over year, helping to provide that final 1% of total sales growth.
Source Fool.com
Target Corp. Stock
€86.72
-0.640%
The stock is one of the favorites of our community with 38 Buy predictions and 1 Sell predictions.
As a result the target price of 149 € shows a very positive potential of 71.82% compared to the current price of 86.72 € for Target Corp..
