Pete Najarian Says Target's Stock Is Going Higher, Taking Market Share From Walmart, Amazon

Target Corp (NYSE: TGT) was featured as the call of the day Friday on CNBC's "Fast Money Halftime Report."

What Happened: Telsey Advisory Group analyst Joseph Feldman maintained Target with an Outperform rating and raised the price target from $265 to $305.

Najarian's Take: Market Rebellion co-founder Pete Najarian said Target's nearly 50% gains year-to-date are a result of the company's partnerships and consistent investments in its business.

The company recently announced it plans to allocate $4 billion each year for store improvements, Najaraian said.

"They just seem to be doing everything right."

Related Link: Where Target Stands With Analysts

Target reported that it gained $9 billion in market share during its last earnings report, Najarian noted. The company is taking that market share from Walmart Inc (NYSE: WMT) and Amazon.com Inc (NASDAQ: AMZN).

"Because of that, this is a stock that is not done yet," Najarian told CNBC. 

Target is scheduled to report its second-quarter financial results before the market opens on Aug. 18.

TGT Price Action: Target has traded as high as $153.65 and as low as $126.28 over a 52-week period.

At last check Friday, the stock was up 0.30% at $149.50.

Photo: courtesy of Target.