Target Surprises With Upbeat Forecast on Improving Demand

Target Corp. forecast better-than-expected profit for the full year, indicating the big-box retailer’s turnaround plans are starting to generate results.

Adjusted earnings per share are projected in a range of $7.50 to $8.50 in the current fiscal year, the company said in a statement on Tuesday. The midpoint is above the average of estimates compiled by Bloomberg.