BUZZ-Target rises after annual sales forecast rise

Target

Target

TGT

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** Shares of big-box retailer Target TGT.N gain 2% at $130.40 premarket

** The firm raises annual sales growth forecast as turnaround strategy starts to pay off

** Expects full-year net sales to grow around 4%, double its prior target of 2% growth

** Also beats quarterly sales estimates, helped by rise in digital sales and improved merchandising categories

** Q1 same-store sales rise 5.6%; analysts on an average expected a 2.5% rise - data compiled by LSEG

** As of last close, TGT up 30% YTD