Got $10,000? Stock Up On Target Before 2021

Retailers have faced plenty of headwinds this year -- mainly due to the coronavirus pandemic. The spread of COVID-19 temporarily shut stores and pushed consumers to focus on buying essentials rather than discretionary items. Even though most stores have reopened, customers are still staying away from crowds as the health crisis continues.

Amid all this turmoil, Target (NYSE: TGT) emerged a winner this year. The grocery and general merchandise retailer has posted triple-digit gains in digital sales and even increases in store sales. Target also reported earnings per share that surpassed analysts' estimates in each of the past four quarters. Even though the stock has gained more than 30% this year, many clues indicate Target's performance is far from over. If you have a $10,000 stake available in a large, well-diversified portfolio, here's why you should consider investing it in Target.

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Source Fool.com