Target Corp. (NYSE:TGT) shares are moving higher Friday after multiple analysts raised their price targets on the stock following better-than-expected second-quarter results earlier in the week.
Target stock is challenging resistance. What’s driving TGT to record levels?
Target Beats Estimates and Raises Full-Year Guidance
Target shares climbed to a fresh 52-week high Friday after the retailer posted second-quarter numbers that surpassed Wall Street’s bar and prompted management to lift its outlook for the rest of the year. The top line came in at $26.54 billion, up 5.3% from a year ago and comfortably past the $26.14 billion analysts had penciled in.
Operating income nearly doubled to $2.56 billion from $1.32 billion, pushing the operating margin up to 9.6% from 5.2% a year ago, while gross margin jumped to 33.7% from 29%, with the tariff windfall contributing 3.7 percentage points of that gain.
