Higher Highs Ahead for This Retailer

07/12/2012 9:00 am EST

Focus: STOCKS

The staff at TraderPlanet.com have painted a big bullseye on this discounter, which has reached its loftiest levels in more than 18 months.

TraderPlanet.com’s "Hot Stock of the Day" is Target Corp (TGT), which showed up on this week’s "52-Week High" list. Target on Tuesday posted a new 1 1/2 year high of $59.49 and closed up +2.05%.

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TrendSpotter has been long since May 25 at $57.26. In recent news on the stock, Target management on July 5 said that the company was on track to deliver second-quarter sales and adjusted EPS in line with previous guidance.

Target on June 13 raised its quarterly dividend to 36 cents from 30 cents per share. Target, with a market cap of $38 billion, operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores.

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