Target Corp. (NYSE:TGT) shares are trading higher Friday. Guggenheim analyst John Heinbockel reiterated a Buy rating and lifted his price target from $140 to $145. Here’s what you should know.
- Target shares are testing new highs. Why did TGT hit a new high?
Price‑target increases from major firms often act as short‑term catalysts because they signal stronger confidence in earnings momentum, margin recovery and the company's ongoing turnaround.
Yesterday's Dividend Increase Reinforced The Bull Case
The move builds on positive news from Thursday, when Target's board approved a quarterly dividend increase from $1.14 to $1.16 per share. It marks the company's 55th consecutive year of raising its annual dividend and its 236th straight quarterly payout since 1967.
Target Stock: Key Technical Levels To Watch
Target continues to hold a strong trend structure. The stock trades about 8% above both the 20‑day and 50‑day simple moving averages, roughly 13% above the 100‑day, and about 27% above the 200‑day. The 20‑day sits above the 50‑day, and the golden cross that formed in January, when the 50‑day moved above the 200‑day, keeps the longer‑term trend pointed higher.
Momentum supports that strength. MACD is above its signal line and the histogram is positive, which signals improving upside pressure compared with the prior pullback. When MACD holds above the signal line, it usually reflects sellers losing control while buyers continue to press the trend.
With price now above the prior 52‑week high at $133.10, that former ceiling can begin acting as support if the breakout holds.
- Key Support: $117.00 — a nearby level where buyers stepped in previously and the closest reference point if the breakout retests lower
Target Stock: Benzinga Edge Rankings Breakdown
Below is the Benzinga Edge scorecard for Target, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 82.2/100) — The stock is acting like a leader, with buyers consistently defending pullbacks and pushing price to new highs.
- Quality: Bullish (Score: 74.95/100) — The fundamentals screen well versus the broader market, which can help support the trend when volatility picks up.
- Value: Bullish (Score: 79.66/100) — Valuation looks reasonable relative to peers, which can make it easier for institutions to keep adding on weakness.
- Growth: Neutral (Score: 68.31/100) — Growth is solid but not the main part of the story, so price may stay more sensitive to execution and margins than to "hyper-growth" expectations.
The Verdict: Target’s Benzinga Edge signal reveals a momentum-led setup with supportive quality and value scores, which fits the stock's breakout behavior on the chart. If momentum cools, traders will likely watch whether the stock can hold prior breakout areas as support rather than giving back the move quickly.
TGT Shares Are Rising
TGT Price Action: Target shares were up 2.25% at $135.62 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro.
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