Target Stock (TGT) Over $100 Post-Earnings, Stock Cycles Bullish

Steve Miller
target stock research tgt upgrade higher price target bullish chart image august

Target NYSE: TGT “weekly” Stock Chart 

Shares of Target (TGT) have risen nearly 20 percent since posting earnings that beat Wall Street expectations. 

Based on its market cycles, we believe the stock can go even further before the end of the year. 

Our approach to stock analysis uses market cycles to project price action.

Our analysis is that TGT is in the rising phase of its current cycle, with time remaining to continue moving higher in price. We project that the stock will hit $107 in the near-term, then watch for what’s next.

Target Earnings Report Overview

The company reported earnings per share of $1.82 and total revenue of $18.4 billion, compared to analyst estimates of $1.62 and $18.3 billion. Management raised guidance by $0.15 to a range of $5.90-$6.20. 

CEO Brian Cornell explained that, “By appealing to shoppers through convenience-driven options, competitive prices, and an enjoyable shopping experience, we’re increasing Target’s relevancy and deepening the relationship between our guests and our brand.”

For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.