Target Corp. (TGT) is an American retail company headquartered in Minneapolis, Minnesota.
And the retailer is one of the biggest benefactors of the pandemic…
At the onset of COVID-19, many consumers turned to wholesalers like TGT for everyday items and must-have products.
This is due to TGT’s business-strategy shift, the reliability of its services, and mass-store closures all across the country.
In order to avoid major disruptions from lockdowns and restrictions, TGT doubled down on its e-commerce platform, as well as delivery services for necessities like groceries.
These components helped the company report strong financials over the past two years. It also enabled it to see substantial growth in share value.
This is made evident in its latest quarterly report…
In the second quarter, TGT said its earnings per share were $3.64 versus the estimated $3.51. The company’s revenue was $25.18 billion, greater than the anticipated $24.99 billion. And comparable-store sales jumped by 8.9% versus the expected increase of 8.8%.
And while TGT provided a solid outlook as well, many analysts were disappointed that the company said many of its financials would come in toward the upper end of its guidance compared to some of the elevated expectations.
This pushed TGT shares down in recent weeks. However, this trend is unlikely to last long.
Retail spending remains strong as we head further into the fall. And with Delta variant concerns looming above, many consumers may turn to ‘tried-and-true’ pandemic winners to stock up on goods – benefiting TGT in the process.
Biggest Prediction of My 50-Year Career on Wall Street
You may have seen me on Jim Cramer's TV show.
But today, I'm going public with something I've never said on national air… not in any of my appearances on Fox Business or CNBC.
I'm a little nervous about it…
But I stand behind the big prediction I'm making right now… because I've never been more confident that a strange day I foresee coming to America could make you a great deal of money.
Granted, I've made plenty of controversial calls in my 50-year career. Like when I called the collapse of Priceline.com on Mad Money back in 2012.
Many experts didn't believe me.
But the stock plummeted 100 points overnight, showing a 733% overnight gain on one particular trade. I'm told it was the first time CNBC Mad Money held a reprise the next day.
Today, my newest prediction is even bigger.
In fact, I'm going one step further.
I'm giving away the ticker symbol of the #1 stock to buy now… using the same system that bears my name on every Bloomberg terminal on Wall Street.