Target (NYSE: TGT) shares continue to trade in a bull market, and everything indicates that the price could advance soon above $190 resistance if the US stock market doesn’t enter a correction phase. Wall Street remains bullish on this retailer as it sees Target well-positioned for success in 2021 and, more importantly, beyond.
Fundamental analysis: Guggenheim raised its price target to $200 on Target
Target Corporation is the 8th-largest retailer in the United States that operates in more than 1,844 stores across the country. The company continues to improve its position on the market, and if you are looking for a solid growing dividend income and good total return potential, shares of this company are not a bad choice.
Target reported Q4 results this March; total revenue has increased by 21.1% Y/Y to $28.34B while Q4 GAAP EPS was $2.73 (beats by $0.29). Total revenue has increased above expectations (beats by $920M), and it is important to say that comparable digital sales grew 118%.
Comparable sales increased by 20.5% in Q4, while the gross margin came in at 26.8% of sales. The company’s business has proven resilient throughout the pandemic, but Target did not provide sales and EPS guidance for FY2021 due to continued uncertainty.
“With the strength of our unique, multi-category assortment and the flexibility we offer through our reliable and convenient fulfillment options, we gained nearly $9 billion in market share in 2020 and grew our revenue by $15 billion, which is more than the 11 prior years combined. As we look ahead to 2021 and beyond, we see continued opportunity to invest in our business and our team, building on the strong foundation we’ve established to drive market share gains and deliver profitable growth for
