Target’s New CEO Sparks Stock Rally with Growth Focus
Target shares surged nearly 7% to $121 after beating Q4 earnings estimates and projecting a 2% sales growth for 2025. New CEO Michael Fiddelke's strategy to revamp product selection and store design marks a pivotal shift for the retailer, which reported $30.45 billion in net sales despite a 1.5% annual decline.
The market's bullish response reflects renewed confidence in Target's turnaround prospects. Adjusted earnings of $2.44 per share defied analyst expectations of a downturn, positioning TGT as a top S&P 500 performer amid broader market losses.