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Target lifts profit forecast after holiday sales jump


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. The Minneapolis-based chain, whose shares closed up 3 percent at $69.14, raised its fourth-quarter profit forecast to $1.30-$1.40 per 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 slated to have poured $1 billion of last year's ...

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First Published: Wed, January 10 2018. 04:05 IST