Chart of Day: Target (TGT) – 7/10

Keep an eye on Target (SYM: TGT).

Just yesterday, the retail stock popped about $3 a share and could push even higher. For one, as we near back to school season, TGT should benefit. And two, the retailer just partnered with Shopify, which is seen as a positive catalyst.

tgt

As noted by Seeking Alpha, Target will be the first mass retailer to work with Shopify to bring select merchants’ products into its physical stores in the months to come. The partnership will offer shoppers even more new third-party brands to discover and could boost Target’s online sales.” Last trading at $148.72, we’d like to see it retest $157.50 initially.

Better, while we wait for TGT to recover, we can collect its $1.12 per share dividend. It’s payable Sept. 10, 2024 to shareholders of record at the close of business August 21, 2024.

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