Target (TGT - Free Report) stock has soared 95% in 2019, as Wall Street and investors show their love for the retailer’s e-commerce strength and more. Target’s climb easily outpaces rival Walmart (WMT - Free Report) and Amazon (AMZN - Free Report) .
Target, like nearly everyone in retail, has boosted its business through digital and delivery. This helped TGT’s third quarter 2019 comparable sales jump 4.5%. Meanwhile, digital sales soared 31%, driven by its same-day fulfillment services, which include Order Pick Up, Drive Up, and Shipt.
Target has also redesigned stores and opened smaller locations. Plus, the retailer has thrived recently while the likes of Macy’s (M - Free Report) and Nordstrom (JWN - Free Report) fade, through its ability to attract younger and more affluent consumers through its own furniture, home décor, fashion brands, and more.
Target also announced a new share repurchase program and its dividend yield tops the 10-year U.S. Treasury and Walmart. On top of that, Target’s top and bottom-line growth estimates for 2019 and 2020 appear strong.
Target is currently a Zacks Rank #1 (Strong Buy). Plus, early overall 2019 holiday shopping numbers are recording breaking. “Looking ahead, we have ushered in the holiday season with an unwavering commitment to guest service that complements our highly differentiated, value-driven assortment, our exceptional in-store shopping experience as well as an unmatched suite of easy and convenient fulfillment options,” Target CEO Brian Cornell said in prepared remarks last quarter.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Target (TGT - Free Report) stock has soared 95% in 2019, as Wall Street and investors show their love for the retailer’s e-commerce strength and more. Target’s climb easily outpaces rival Walmart (WMT - Free Report) and Amazon (AMZN - Free Report) .
Target, like nearly everyone in retail, has boosted its business through digital and delivery. This helped TGT’s third quarter 2019 comparable sales jump 4.5%. Meanwhile, digital sales soared 31%, driven by its same-day fulfillment services, which include Order Pick Up, Drive Up, and Shipt.
Target has also redesigned stores and opened smaller locations. Plus, the retailer has thrived recently while the likes of Macy’s (M - Free Report) and Nordstrom (JWN - Free Report) fade, through its ability to attract younger and more affluent consumers through its own furniture, home décor, fashion brands, and more.
Target also announced a new share repurchase program and its dividend yield tops the 10-year U.S. Treasury and Walmart. On top of that, Target’s top and bottom-line growth estimates for 2019 and 2020 appear strong.
Target is currently a Zacks Rank #1 (Strong Buy). Plus, early overall 2019 holiday shopping numbers are recording breaking. “Looking ahead, we have ushered in the holiday season with an unwavering commitment to guest service that complements our highly differentiated, value-driven assortment, our exceptional in-store shopping experience as well as an unmatched suite of easy and convenient fulfillment options,” Target CEO Brian Cornell said in prepared remarks last quarter.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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