Target stock price forecast: $143.11 resistance as TGT gains 3.36%

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Target gains 3.36% to $138.62 today

Highlights

Target achieved its first positive comparable store sales growth in five quarters, with Q1 2026 revenues rising 7% to $25.44 billion.
Back-to-school promotions featuring new collaborations and refreshed products are expected to drive additional sales in the current quarter.
Technical signals indicate strong bullish momentum, with TGT/USD likely to consolidate between $135.98 and $143.11 barring a breakout or correction.

Comparable sales rebound and seasonal launches drive improved demand

Target recorded its first positive comparable store sales in five quarters during Q1 2026, with net revenues rising 7% year-over-year to $25.44 billion, according to Moneycheck. This return to comparable sales growth points to improving underlying demand and renewed revenue momentum after a period of operational softness. In addition, the retailer's launch of its back-to-school season, highlighted by limited-edition collaborations and a refreshed product assortment, as described by Retaildive, is expected to capitalize on seasonal customer flows and further support sales performance in the current quarter.

Bullish trend persists as technicals show overbought momentum

On the technical front, TGT is trading above the MA-20 ($133.47) and MA-50 ($133.09) on the H1 timeframe, and substantially above the MA-200 ($107.88) on the daily chart. The Ichimoku Kijun at $133.45 provides immediate support. Momentum indicators confirm the strength of the recent move: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both signal strong bullish trend strength. The Relative Strength Index (RSI) is at 72.98, indicating overbought conditions. Both Stochastic RSI and Commodity Channel Index (CCI) also flag extreme short-term readings, while Bull/Bear Power is overbought and the Awesome Oscillator supports ongoing upward momentum. Volatility remains elevated after today’s gap higher, with price action concentrated near session highs.

Range-bound action favored amid high upside probability

Looking ahead, TGT is likely to consolidate in the $135.98 to $143.11 range over the next several sessions, consistent with typical volatility bands. With an up probability of 78%, the baseline scenario calls for range-bound action above recent support. A decisive break above $143.11 would open the door for additional upside, while a move below $135.98 could trigger a deeper short-term correction.

Viktoras Karapetjanc, Traders Union analyst, sees strong momentum in Target after a return to comparable sales growth and robust Q1 2026 results. He believes renewed consumer demand and targeted back-to-school initiatives are positioning the company for further gains. Technical conditions add to the positive outlook with momentum indicators and support levels aligning. "Target’s turnaround is gaining traction, and I expect continued upside as long as the $135.98 support holds."

Earlier, analysts noted that renewed buying interest in Target shares reflected improving customer engagement and strengthening financial performance. With the stock now trading near new highs and momentum indicators firmly stretched, traders should monitor for potential upside if $143.11 is broken, while remaining alert to volatility-driven pullbacks below $135.98.

Source of Data: TGT Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.