Skip to content
Subscriber Only

Target Gets Biggest Post-Earnings Pop Since 2020 on New Forecast

  • Retailer’s upbeat outlook follows robust holiday-season gains
  • Shares erase much of this year’s drop as company sees growth
Updated on

Target Corp. soared after unveiling a forecast for new profit gains on top of the pandemic-related boom that has already sparked robust growth. 

Operating profit will post a percentage increase in the low single digits this year, the retailer said Tuesday, bucking Wall Street’s expectations that the closely watched number would decline. Target also predicted steady financial gains beyond 2022 as it expands e-commerce capabilities and bolsters its store network.