Target raises annual sales forecast, stock price jumps 4% pre-market

2026-03-03 17:33:33

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Investing.com – Target Corporation (NYSE:TGT) stock rose about 4% pre-market on Tuesday to $117.50 after the retailer released an annual same-store sales outlook that exceeded Wall Street expectations.

The Minneapolis-based company expects net sales to grow 2% in 2026 compared to 2025, surpassing the 1.76% analyst forecast based on LSEG data. Target attributed this outlook to anticipated demand for categories like apparel, as well as recent cost-saving measures and gains from its advertising business.

Target expects full-year earnings per share between $7.50 and $8.50, significantly higher than the market consensus of $7.68.

The retailer reported fourth-quarter earnings per share of $2.44, beating analysts’ expectations of $2.16. Quarterly revenue was $30.45 billion, slightly below the expected $30.48 billion.

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