Posted 3/5/2024, 1:04:00 PM
Target Tops Q4 Estimates, Guides Higher; Shares Surge to 11-Month High
- Target reported better-than-expected 4Q earnings results, with earnings up 57.7% and revenue rising 1.7%
- Comparable sales gained 4.4%, ahead of estimates, while gross margin improved to 25.6%
- Target provided upbeat full-year earnings guidance, seeing a 2% increase compared to last year
- The company's stock price surged over 8% premarket on the earnings beat, hitting an 11-month high
- Target stock is working on a potential cup base breakout, which would give a buy point at 181.70