Back from the dead, Target (TGT) exploded.

Last checked, the retailer was up about $20 a share to $130.86 and could head higher.  Not only were earnings better than expected, but the holidays are just around the corner again.

TGT topped Wall Street’s quarterly sales expectations and blew past earnings estimates, as purchases in high-frequency categories like food and beauty helped prop up weaker customer spending, as noted by CNBC. EPS of $2.10 beat estimates of $1.48. Revenue of $25.4 billion was also better than expectations for $25.24 billion.

Helping, analysts like what they’re seeing, too.

Morgan Stanley said that Target’s 19% reduction in discretionary inventory suggests the company is making progress in rightsizing inventory without resorting to incremental markdowns and promotions. The firm thinks the bull case path to $170 is now strengthened, as noted by Seeking Alpha.

Bank of America also believes TGT “will benefit from continued gross margin upside opportunities in FQ4 and into next year. The easing traffic comparisons are also expected to boost sentiment, while digital/same-day improvements and merchandising initiatives are also seen as positive factors,” they added.

While TGT could see some profit-taking after a massive gap higher, the stock could still head higher as we near the December holidays.