WBA - Target: Is This A Good Dividend Stock To Buy Before Q4 Earnings?
2024-02-12 13:40:05 ET
Summary
- Target is well positioned to benefit from the projected increase in consumer spend as the product mix offering is diverse.
- Target's dividend streak has reached 55 years of consecutive increases and a strong growth CAGR of 11.5% over the last five years.
- Target's financials remain healthy and TGT stock is undervalued, boasting a potential upside of over 20% through 2025.
Target Overview
I previously covered Target ( TGT ) back in September 2023 and rated the stock as a Buy. The target stock price back then was about $123/share. We've since seen the price appreciate by about 20% in comparison to the S&P 500's ( SPY ) 12% upside over the same period. The TGT dividend growth is likely to continue being strong based on the future outlook and cash flow. The dividend streak has now reached 55 years of consecutive increases, making Target a certified dividend king. I like Target as a dividend growth holding in my portfolio because it gives me exposure to one of the highest quality companies in the consumer sector....
Target: Is This A Good Dividend Stock To Buy Before Q4 Earnings?