Target Shares Jump 74% in 2026 as CEO Backs $2 Billion Turnaround

2 articles · Updated · Yahoo Finance · Aug 25

Target has emerged as an unexpected retail winner in 2026, with its stock up 74% as early signs of CEO Michael Fiddelke’s turnaround begin to show.
Fiddelke, who took over in February, tied the recovery to four priorities—merchandising, store experience, technology, and staff and community investment—and committed $2 billion in added spending on operations and renovations.
The rally follows a brutal stretch in which Target shares fell for four straight years and lost 58% of their value as the chain ceded market share and posted three consecutive years of sales declines.
Target also benefited from investors rotating into consumer-defensive stocks earlier this year; its low valuation, profitability, 5%+ dividend yield, and 55-year streak of payout increases added support.