In a welcome move, Target stock saw its Relative Strength Rating rise from 61 to 72 on Monday.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the best-performing stocks often have an RS Rating of at least 80 as they begin their biggest climbs. See if Target stock can continue to show renewed price strength and hit that benchmark.
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Is Target Stock A Buy?
While the Target stock is not near a proper entry right now, see if the retailer manages to form and break out of a proper consolidation. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
Earnings growth increased last quarter from -49% to -41%. But sales fell from 3% to 1%.
Target stock earns the No. 4 rank among its peers in the Retail-Major Discount Chains industry group. Costco Wholesale and PriceSmart are also among the group's highest-rated stocks. For more industry news, check out "Retail Industry News And Stocks To Watch."
