Target (NYSE: TGT) stock soared over 17% on Nov. 15 after its third-quarter 2023 earnings exceeded expectations. It's uncommon for a Dividend King stalwart like Target to pop that much in a single day. The results must have been unbelievable, right?

Actually, they were just OK, but it serves as a reminder that investing -- at least in the short-term -- is sometimes all about narratives. Let's unpack why the narrative has changed and where, more importantly, this major retailer could be headed over the long term.

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Source Fool.com