Target Corp (NYSE:TGT) shares climbed to new highs on Friday after Guggenheim analyst John Heinbockel reiterated a Buy rating and raised his price target from $140 to $145.

Key Highlights

  • Guggenheim raised its Target price target from $140 to $145 while maintaining a Buy rating.
  • Target shares are trading at new highs, supported by recent positive momentum.
  • The stock trades roughly 8% above its 20-day and 50-day moving averages.
  • Target's board approved a dividend increase to $1.16 per share, its 55th straight annual hike.

Target Corp (NYSE:TGT) shares advanced on Friday, testing new highs after Guggenheim analyst John Heinbockel reiterated his Buy rating on the stock and lifted his price target to $145 from $140.

Price target increases from major firms often act as short-term catalysts for Target stock, as they signal growing confidence in earnings momentum, margin recovery, and the retailer's broader turnaround efforts. The latest move from Guggenheim adds to a string of constructive signals around the company in recent sessions.

The upgrade builds on positive news from Thursday, when Target's board approved an increase to its quarterly dividend, raising the payout from $1.14 to $1.16 per share. The increase marks the company's 55th consecutive year of raising its annual dividend and its 236th straight quarterly payout dating back to 1967, a streak that continues to support the long-term bull case for TGT stock among income-focused investors.

From a technical standpoint, Target continues to display a strong trend structure. The stock trades approximately 8% above both its 20-day and 50-day simple moving averages, around 13% above its 100-day average, and close to 27% above its 200-day average. The 20-day average remains above the 50-day, while the golden cross formed in January, when the 50-day moved above the 200-day, continues to support the longer-term bullish trend for the stock.

Momentum indicators also point to continued strength. The MACD remains above its signal line with a positive histogram, signalling improving upside pressure compared with the prior pullback. When the MACD holds above its signal line, it typically reflects fading seller pressure as buyers continue to drive the trend.

With Target shares now trading above the prior 52-week high near $133.10, that former resistance level could begin acting as a support zone if the breakout holds. On the downside, the $117.00 level remains a key area to watch, representing the closest support zone where buyers have previously stepped in.

For investors evaluating Target stock heading into the next earnings cycle, the combination of analyst upgrades, dividend growth, and improving technical momentum continues to shape the near-term narrative around TGT shares.