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CORRECTED - Target lifts profit forecast after holiday sales jump

Reuters 

By Siddharth Cavale(Reuters) - Target Corp raised its quarterly profit and sales forecasts on Tuesday on the back of surging online sales and customer visits in November and December, putting the U.S. retailer on track for the best quarter in five years. Shares of the Minneapolis-based chain rose as much as 4 percent to hit a near one-year high of $69.88 after the company raised its fourth-quarter profit forecast to $1.30-$1.40 a share from an earlier range of $1.05-$1.25.That was well above analysts' average forecast of $1.22 per share, according to Thomson Reuters I/B/E/S. Target is ...

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First Published: Wed, January 10 2018. 00:52 IST
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