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$TGT Respecting the 160 zone is key to keeping the big base potential alive. pic.twitter.com/j0GN49YwMz

— Frank Cappelleri (@FrankCappelleri) February 28, 2023

Target (TGT) just reported 4Q22 earnings and they support my thesis that the company is slowly but surely righting the ship. 4Q22 comps were 0.7% and operating margin 3.7% – compared to last quarter’s guidance of down low single digits and 3%. More importantly, they gave full-year 2023 EPS guidance of $7.75-$8.75 – which would be a nice improvement from the $6.02 they earned in 2022. TGT gave a wide range for the full year 2023 comp guidance of down low single digits to up low single digits. Shares are currently marginally higher in the premarket.

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