NEW YORK—Target delivered another strong quarter, overcoming a slew of challenges from inflationary pressures to congested ports. Third-quarter profits rose nearly 47 percent, while sales increased 13.2 percent, both exceeding expectations and the Minneapolis company raised projections for fourth-quarter comparable-store sales. Target joins Walmart heading into the holiday shopping season with momentum. The biggest U.S. retailers are rerouting goods to less congested ports, even chartering their own vessels. Target also said it unloaded about 60 percent of its containers at off-peak times Target and Walmart are using their scale to keep prices comparatively low and perhaps most importantly, keeping its shelves full when so much is in short supply. On Wednesday, Target said that inventory levels rose nearly 20 percent compared with the same period last year. Yet the company has not been unscathed by soaring costs. Its quarterly operating income margin rate during the quarter was 7.8 percent, up …