It has been over a year, but growth finally appears to be back at (NYSE: TGT). That was the biggest takeaway from the retail giant's early March earnings update which included other encouraging signs around demand and profit trends.

Target isn't out of its slump just yet. Management is simply calling for a return to comparable-store sales growth in 2024 following last year's decline. Peers like Walmart (NYSE: WMT) and Costco Wholesale (NASDAQ: COST) are expanding much more quickly, too.

Yet there are some good reasons to be feeling bullish on Target stock right now. Let's dive right in.

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Source Fool.com