Shares of Target Corp. (TGT) surged 1.2% towards a four-month high during Thursday’s afternoon trading session, bringing delight to investors as they witnessed the discount retailer’s best month in over three years. In November alone, the stock has seen an impressive 19.9% increase, with a standout surge of 17.8% on November 15, soon after the company reported a fiscal third-quarter profit that surpassed expectations by a significant margin. This marks a substantial improvement in performance, potentially leading to the biggest monthly gain since its impressive 20.1% surge back in August 2020.
Walmart Inc. (WMT), one of Target’s key rivals, unfortunately experienced a contrasting trend, with shares falling by 0.6% on Thursday and losing 5.1% in November. For Walmart, this performance would be its worst monthly performance since a 7% decline in December 2022. By comparison, the Consumer Staples Select Sector SPDR ETF (XLP), which includes shares of both Walmart and Target, managed to gain 3.5% throughout November. Meanwhile, the S&P 500 as a whole showed strength with an overall increase of 8.4% during the same period.
Given this remarkable progress and positive market sentiment, it appears that Target Corp. is on an upward trajectory, impressing investors and outshining its competitors.
