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Target stock hits record after earnings top Wall Street estimates

CNBC logo CNBC 8/21/2019 Angelica LaVito

a person standing in front of a store: Back-to-school shopping at a Target store in West Hollywood, California.© Provided by CNBC LLC Back-to-school shopping at a Target store in West Hollywood, California.

Target shares opened at a record high on Wednesday after smashing Wall Street's second-quarter earnings expectations and raising its full-year outlook.

Target set its previous intraday high of $90.39 on Sept. 10, 2018. Its shares opened at $99.87 and briefly eclipsed $100 a share in the first few minutes of trading. 

The retailer on Wednesday 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.

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