Back-to-school shopping at a Target store in West Hollywood, California.
Joe Scarnici | Getty Images
Its shares opened Wednesday at a record high $99.87 and eclipsed $100 a share. In morning trading, Target shares hit $101.92, up 19%. Target set its previous intraday high of $90.39 on Sept. 10.
The move lifted Target’s market value to $52.1 billion, up from $43.819 billion at the end of Tuesday’s trading session.
Before Wednesday’s opening bell, Target beat analysts polled by Refinitiv’s earnings and revenue expectations, saying its investments in same-day shipping and in-store pick up drew more customers.