Target Eyes Another Day of Record Highs After Bull Notes

Options premiums also look attractive on the equity

Managing Editor
Nov 21, 2019 at 9:18 AM
facebook X logo linkedin


Just one day off a blowout earnings report that led to a new record high, Target Corporation (NYSE:TGT) is up 1.3% in electronic trading, continuing its climb higher and set to open at another all-time peak after receiving a fresh round of bull notes. Following last night's close, no fewer than 10 brokerage firms handed out a price-target hike on the security.

The most generous so far has been out of Raymond James and Citigroup, both of which raised their TGT price targets to $150 -- a nearly 19% premium to Wednesday night's close at $126.43. Meanwhile, KeyBanc chimed in, saying Target is well-positioned for the holiday season.

The shares are now set to open at $127.98, shattering yesterday's all-time high of $127.19. The equity is also up 91% year-to-date, and recently enjoyed a bounce off its 50-day moving average -- a new layer of support. In terms of analyst support, 13 covering firms carried a "strong buy" coming into today.

In the wake of earnings, it's a good time to buy options premium on Target stock. This is per the equity's Schaeffer's Volatility Index (SVI) of 23%, which ranks in the 18th percentile of its annual range. In simpler terms, near-term options are pricing in unusually low volatility expectations at the moment.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI