Stifel Reiterates Buy on TJX Cos. (TJX) Following 2Q EPS Beat
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Stifel reiterated a Buy rating and $92.00 price target on The TJX Companies (NYSE: TJX) following the company's 2Q earnings report. TJX reported EPS of $0.84, ahead of the consensus estimates by $0.03.
Analyst Richard Jaffe commented, "TJ Maxx reported 2Q EPS of $0.84 ($0.03 above consensus and our estimate) a 5% increase vs. $0.80 LY. The beat vs. our estimate was driven by better than expected gross margin expansion driven by a significant increase in merchandise margins."
"Solid results as positive customer response to the company’s great values, compelling brands and powerful marketing
drove traffic, broad based strength (across categories and geographic regions), sales (comp sales increased 4% versus
+6% LY) and merchandise margins."
Shares of The TJX Companies closed at $82.77 yesterday.
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