The stock market's bull run from late 2020 into 2021 brought many stocks to their most recent highs. The bear market that followed pulled many stocks down so far that they have yet to return to those late-2021 peaks. Popular retailer (NYSE: TGT) is one of the companies that went on this wild ride over the last few years.

For Target, the stock's run-up to its high water mark was driven by the pandemic. In the early months, everyone needed to shop online and have items delivered or available as curbside pickup, eliminating the need to go into stores when many were closed or had limited occupancy restrictions.

The stock's fall was partly due to the overall market's decline in 2022, but it was also due to some missteps by management. Target shares currently trade 37% below their 2021 high. At its low water mark, the stock was down 61%. Let's see if the recent recovery is an indication that Target stock is a buy right now.

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Source Fool.com