The retail chain also raised its annual revenue outlook, saying it expected the momentum to continue the rest of the year.

Target Corp. has quietly emerged as one of this year’s hottest retail stocks, outperforming many staples and big-box peers. The rally has also raised the bar headin…

Target has been struggling with a sales slump and decreased customer traffic, though CEO Michael Fiddelke has said the retailer is poised for a turnaround.