Stock Alert: Target Shares Hit New 52-Week High

Shares of Target Corp. (TGT) reached a new 52-week high of $168.42 today, and are currently trading at $167.38, up $4.34 or 2.66% in the regular trading session Wednesday. Trading volume is rising over 2.40 million versus an average volume of 3.92 million shares.

The discount retailer, today, reported better-than-expected results for the third quarter.

The company’s Q3 net income rose to $1.01 billion or $2.01 per share from $714 million or $1.39 per share in the year-ago period. Excluding items, adjusted earnings from continuing operations were $2.79 per share, compared with $1.36 per share in the prior-year quarter. Total revenue grew 21.3% to $22.63 billion from $18.67 billion last year.

Analysts polled by Thomson Reuters expected earnings of $1.60 per share on revenues of $20.93 billion for the quarter. Analysts’ estimates typically exclude certain special items.

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