Target Stock Enjoying Holiday Sales Tailwinds

TGT has added more than 27% so far this year

Digital Content Manager
Dec 28, 2021 at 10:53 AM
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The shares of Target Corporation (NYSE:TGT) are up 1.2% to trade at $226.67, as retail stocks enjoy tailwinds from an 8.5% year-over-year sales jump this holiday season -- the fastest growth in 17 years -- amid strength in the e-commerce sector. 

Digging deeper, Target stock is bouncing off the $214 level after a dramatic pullback from its Nov. 15, record high of $268.97. The stock has also just broken above its descending 10-day moving average. Longer term, TGT sports a 27.7% year-to-date lead. 

The brokerage bunch is firmly bullish towards the equity. Of the 17 analysts in question, 14 sport a "strong buy" rating, while three say "hold." Plus, TGT's 12-month consensus target price of $285.79 is a 26.7% premium to current levels.

The options pits echo that optimism. This is per the stock's 50-day call/put volume ratio of 2.39 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 77% of readings in its annual range. 

It's also worth noting that the security's Schaeffer's Volatility Scorecard (SVS) sits at 98 out of 100. In other words, TGT has exceeded option traders' volatility expectations during the last 12 months.

 

 

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