On August 19, Target rose 3.89% in regular trading, trading at $159.99/share with turnover of $364 million. The stock initially dipped in pre-market trading before reversing higher as investors digested a strong fiscal Q2 earnings report and significantly raised full-year guidance.

Target reported fiscal Q2 adjusted earnings of $4.11 per diluted share, surging 100% year-over-year from $2.05 and crushing the analyst consensus estimate of $2.33 by over 76%. Net sales reached $26.54 billion versus estimates of $26.14 billion, while comparable sales jumped 5.6%, marking the second consecutive quarter of positive comps. The earnings beat was substantially driven by tariff rebates received during the quarter.

The retailer significantly raised its full-year guidance, now expecting adjusted EPS of $9.90 to $10.90, up sharply from the prior range of $7.50 to $8.50 and well above the FactSet consensus of $8.52. Full-year net sales growth expectations were lifted to approximately 5%, one percentage point above prior guidance. Management noted back-to-school sales grew nearly 20%, and the CFO indicated plans to resume share buybacks in the second half of the year.

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