MINNEAPOLIS (dpa-AFX) - Shares of Target Corporation (TGT) are rising more
than 11 percent Tuesday morning after reporting upbeat fourth-quarter results
above analysts' view. The general merchandise retailer also provided full-year
earnings outlook that came in above the Street expectations.

For the fourth quarter, net earnings surged to $1.38 billion or $2.98 per share
from $876 million or $1.89 per share in the year-ago quarter. Earnings were
benefitted from an additional week of sales as compared to last year. On
average, 27 analysts polled by Thomson Reuters expected the company to report
earnings of $2.22 per share for the quarter.

Revenue for the quarter grew 1.7 percent to $31.92 billion from $31.40 billion
in the same quarter last year. Analysts expected revenues of $29.33 billion for
the quarter.

For fiscal 2024, the company now projects earnings in the range of $8.60 to
$9.60 per share. The Street is looking for earnings of $8.44 per share for the
year.

TGT, currently at $168.07, has traded in the range of $102.93 - $171.24 in the
last 1 year.



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