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Aug. 21, 2019, 10:08 a.m. EDT

Target's stock soars toward record rally and record high

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By Tomi Kilgore

Shares of Target Corp. /zigman2/quotes/207799045/composite TGT -0.37% rocketed 18.2% in morning trading Wednesday, which puts them on track for the biggest one-day gain in its history, after the retailer reported better-than-expected fiscal second-quarter results and raised its outlook. The stock was trading well above the Sept. 10, 2018 record close of $89.26 and all-time intraday high of $90.39. The stock's percentage gain would be bigger than the current record rally of 17.8% on Oct. 28, 2008. Target went public in October 1968. The current price gain of $15.61 is adding about $8 billion to the retailer's market capitalization, which would lift the market cap to about $51.9 billion. That's still well below the market cap of rival Walmart Inc. /zigman2/quotes/207374728/composite WMT -1.63% of $323.1 billion. Target's stock has gained 2.7% over the past 22% over the past months, while Walmart shares have advanced 18% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.40% has tacked on 1.5%.

/zigman2/quotes/207799045/composite
US : U.S.: NYSE
$ 117.39
-0.44 -0.37%
Volume: 2.87M
Feb. 19, 2020 6:30p
P/E Ratio
18.76
Dividend Yield
2.25%
Market Cap
$59.71 billion
Rev. per Employee
$209,322
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/zigman2/quotes/207374728/composite
US : U.S.: NYSE
$ 117.68
-1.95 -1.63%
Volume: 7.19M
Feb. 19, 2020 6:30p
P/E Ratio
22.69
Dividend Yield
1.80%
Market Cap
$339.41 billion
Rev. per Employee
$223,654
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,348.03
+115.84 +0.40%
Volume: 242.65M
Feb. 19, 2020 5:05p
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