Stephanie Link discusses Target as a turnaround story under new CEO Michael Fiddelke, who took over in February. The retailer has launched a $6 billion investment plan focused on store improvements, supply chain, and employee training. Early results show improving traffic, up 3.6%, and comparable sales, up 3.8% last quarter. The stock has rallied more than 61% this year but remains about 40% below its 2021 high. Link expects earnings of roughly $9 to $11 per share over the next 12 to 18 months and sees further upside as profitability improves.
Source: Read the original article
