Retail

Target shares hit record highs after earnings smash estimates

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Back-to-school shopping at a Target store in West Hollywood, California.

Joe Scarnici | Getty Images

Target shares traded at a record high on Wednesday after the retailer smashed Wall Street’s second-quarter earnings expectations and raised its full-year outlook.

Target shares closed at a record high of $103, up 20% on the day. Its stock touched an intraday high of $103.38 at one point in the day, according to FactSet. Target set its previous intraday high of $90.39 on Sept. 10.

The move lifted Target’s market value to $52.67 billion, up from $43.819 billion at the end of Tuesday’s trading session.

Before Wednesday’s opening bell, Target beat analysts polled by Refinitiv’s earnings and…



Source cnbc.com

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