Target’s Stock Rally Raises Earnings Bar as Comeback Gains Steam

Target Corp. has quietly emerged as one of this year’s hottest retail stocks, outperforming many staples and big-box peers. The rally has also raised the bar heading into quarterly results.

Shares have surged 26% this year, on pace for their first annual gain in five years. But as impressive as the rally may be, Target’s stock has clawed back only about a fifth of the losses over the prior four years and at about $123 a share is a far cry from the all-time high of $266 back in 2021.