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Stock Alert: Target Stocks Edges Up

Target Corp. (TGT) shares are trading higher in morning trading, as its fourth-quarter earnings grew from the prior year. The shares have been bullish, prior to the announcement of quarterly results.

TGT is currently trading at $110.18, up 1.03 percent from its previous close of $109.06. For the 52-week period, the shares have been trading in a range of $70.03 to $130.24.

The Minneapolis-based general merchandise retailer reported fourth-quarter net earnings of $834 million, up 4.4 percent from $799 million in the prior year. On a per share basis, earnings rose 7.2 percent to $1.63 from $1.52 in the prior year. Adjusted earnings per share was $1.69. Analysts polled by Thomson Reuters were looking for $1.65 per share.

Total revenue for the quarter increased 1.8 percent to $23.398 billion from $22.977 billion a year ago. Analysts on average were expecting revenue of $23.49 billion for the quarter. Total comparable sales grew 1.5 percent during the quarter.

Looking ahead to the first quarter, the company expects earnings per share in a range of $1.55 to $1.75. Analysts expect profit per share of $1.66.

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