Target (TGT) closed at $230.24 in the latest trading session, marking a +0.66% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.24%.Heading into today, shares of the retailer had lost 5.92% over the past month, lagging the Retail-Wholesale sector's loss of 5% and the S&P 500's loss of 2.12% in that time.TGT will be looking to display strength as it nears its next earnings release, which is expected to be November 17, 2021. In that report, analysts expect TGT to post earnings of $2.78 per share. This would mark a year-over-year decline of 0.36%. Meanwhile, our latest consensus estimate is calling for revenue of $24.48 billion, up 8.16% from the prior-year quarter.TGT's full-year Zacks Consensus Estimates are calling for earnings of $12.86 per share and revenue of $104.45 billion. These results would represent year-over-year changes of +36.52% and +11.64%, respectively.Investors might also notice recent changes to analyst estimates for TGT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TGT is currently a Zacks Rank #3 (Hold).In terms of valuation, TGT is currently trading at a Forward P/E ratio of 17.79. Its industry sports an average Forward P/E of 20.84, so we one might conclude that TGT is trading at a discount comparatively.We can also see that TGT currently has a PEG ratio of 1.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Discount Stores industry currently had an average PEG ratio of 2.01 as of yesterday's close.The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report To read this article on Zacks.com click here.