Target Stock at $165: Here's Why Investors Should Pause.
After a monster 79% trailing 12-month gain, shares in this retail giant are no longer cheap.
Overview
Target (NYSE: TGT) stock has been on an epic run. Over the past 12 months, the share price has skyrocketed 79% (as of Sept. 3). This performance is certainly better than anyone could have hoped.
Credit goes to the company's turnaround efforts under CEO Michael Fiddelke, who took over from Brian Cornell in February. Target has improved merchandising, remodeled stores to upgrade the guest experience, and leaned into digital efforts. It has exceeded Wall Street earnings estimates in each of the last four quarters.
Details
This retail stock currently trades at about $165 per share, a price it hasn't seen since the first half of 2024. But it's still 38% below its peak from November 2021.
Source
Originally published at www.fool.com.