Target Still Looks Like a Strong Buy at Its Record High
Target's (NYSE: TGT) stock recently rallied to an all-time high after the retailer's third-quarter numbers crushed analysts' estimates. Its revenue rose 4.7% annually to $18.67 billion, beating expectations by $220 million and accelerating from its 3.6% growth in the second quarter.
Target's operating income rose 22% to $1 billion, as its EPS from continuing operations rose 18% to $1.37. On a non-GAAP basis, its EPS jumped 25% to $1.36 and topped estimates by $0.17 per share. Those impressive growth rates explain why Target's stock nearly doubled this year -- and why it could still have room to run.
Image source: Target.
Source Fool.com
