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Target Posts Gains Following Earnings Report

Shares of Target (TGT) have risen notably on Wednesday following the release of its quarterly results. The stock rose steadily during the morning and has added to its gains during the early afternoon.

Target is off its highs of the session now, but the stock is still up $2.12 to $5.47. This represents a gain of about 3.9 percent.

Wednesday's advance has more than reversed a pre-earnings swoon suffered on Tuesday. The stock is back to levels last seen about a week ago, when the stock suffered a sharp decline, taking it further off a multi-month high reached early this month.

In its report, Target lifted its fiscal 2017 forecast for earnings and comparable sales after reporting higher comps in its second quarter.

Net earnings in the quarter declined, while earnings from continuing operations increased with higher sales. Adjusted earnings per share as well as top line beat analysts' estimates.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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