Target’s Stock Jumps 12% As Earnings Beat Forecasts
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Target's stock surged 12% after the company reported better-than-expected fiscal second-quarter earnings, with EPS of $0.57 exceeding analysts' forecast of $0.18. Revenue reached $24.45 billion, surpassing expectations of $24.21 billion, marking a 2% sales increase year-over-year. This growth is attributed to strong digital sales and a revival in discretionary purchases. Despite positive results, Target maintained its full-year comparable sales guidance but raised its profit outlook to a range of $6.20 to $6.70.
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