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

Target Corp 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 WMT and Amazon.com Inc 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.