What's Happening with TGT
Target (TGT) has been one of the strongest stocks in the overall market in 2019 with shares appreciating 96.5% since the start of the year. Wall Street remains incredibly bullish on the stock, and TGT has a good chance to move higher and participate in the Santa Claus Rally into the new year.
Technical Analysis
TGT was recently trading at $129.85 down $0.11 from its 12-month high and $69.7 above its 12-month low. InvestorsObserver's Stock Score Report gives TGT a 88 long-term technical score and a 74 short-term technical score. The stock has recent support above $110 and recent resistance below $129. Of the 20 analysts who cover the stock 13 rate it Strong Buy, 0 rate it Buy, 7 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, TGT gets a score of 68 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
While the market missed out on a Santa Claus rally in 2018, investors are being treated to one this year. The major indexes are all trading at all-time highs as we near the end of the year, and the markets are likely to continue building on its recent gains as move into 2019. Target has been a top performer thanks to improved e-commerce sales and rising same-store sales. Target has invested heavily in its online business and improved its consumer experience by revamping its stores and investing in its employees. Investor optimism remains very bullish on the stock and barring any major correction in the overall market TGT should continue to move higher as we kick off the new year. Target is forecast to grow profits at 10.3% per annum over the next five years, which is basically in line with the annual growth over the last five years. The stock trades at 18 times future earnings which is reasonable considering the forecast growth rate and should allow shares to move higher.