Target Hits The Bulls-Eye

The Barchart Chart of the Day belongs to the retailer Target (NYSE: TGT). I found the stock by using Barchart's powerful screening tools to find the stocks with the highest Weighted Alpha and technical buy signals. That resulted in a watch list of 15 stocks. After I sorted for the most frequent number of new highs in the last month, I used the Flipchart feature to review the charts for consistent prices appreciation. Since the Trend Spotter signaled a buy on 5/19 the stock gained 19.15%.

Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. They offer both everyday essentials and fashionable, differentiated merchandise at exceptional prices. Their ability to deliver a shopping experience that is preferred by their guests is supported by their strong supply chain and technology infrastructure. They operate as a single business segment. Their credit card operations represent an integral component of their core retail business. They also operate a fully integrated online business, Target.com. Although Target.com is small relative to their overall size, its sales are growing at a much more rapid pace than their in-store sales, and it provides important benefits to their stores and credit card operations. 

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers are shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

• 100% technical buy signals
• 105.14+ Weighted Alpha
• 110.97% gain in the last year
• TrendSpotter buy signal
• Above its 20, 50, and 100 day moving averages
• 17 new highs and up 8.50% in the last month
• Relative Strength Index 83.69%
• Technical support level at 258.67
• Recently traded at 260.37 with a 50 day moving average of 237.19

Fundamental factors:

• Market Cap $129.14 billion
• P/E 20.51
• Dividend yield 1.04%
• Revenue is expected to grow 8.80% this year and another 2.00% next year
• Earnings are estimated to increase 30.40% this year and continue to compound at an annual rate of 9.91% for the next 5 years
• Wall Street analysts issued 16 strong buy, 6 buy, 6 hold and 1 sell recommendation on the stock
• The individual investors following the stock on Motley Fool voted 2,685 to 264 that the stock will beat the market
• 156,128 investors are monitoring the stock on Seeking Alpha

The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stock are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop-loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.