The stock's long-term track record is impressive to be sure. Recently though, shares of  (NYSE: TGT) have been tough to stick with. After rallying during and because of the COVID-19 pandemic, Target stock was left highly vulnerable to last year's bear market. How vulnerable? Despite last month's post-earnings surge, shares are still down 50% from their late-2021 peak.

The economic backdrop is evolving in somewhat unexpected ways, however. Namely, the economy looks to be easing out of the trouble caused by rampant inflation, leading to the so-called "soft landing" most investors were hoping for. The marketwide gains logged since late last year may mark the beginning of a new bull market after all.

If this is indeed the case, Target stock is a compelling buy for four distinct reasons.

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Source Fool.com