Target (TGT) shares have jumped 51% so far in 2026 after years of decline, and the stock is still down more than 40% over five years. The retailer has raised its dividend for 55 consecutive years, one of just 33 companies at that mark or longer, and its current yield is 3.1%. Under new CEO Michael Fiddelke, revenue has stopped falling after three years of declines, and sales guidance was lifted from 2% to 4% in May and to 5% this summer. Target reports fiscal third-quarter results on the morning of Nov. 18 and expects annual EPS of $9.90 to $10.90, about 14 times the midpoint of that range. The author argues the valuation remains reasonable and that there is room for another dividend increase next summer.
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