Wells Fargo Upgrades The TJX Companies (TJX) to Outperform; Continued Momentum
Tweet Send to a FriendGet Alerts TJX Hot Sheet
Price: $50.30 --0%
Rating Summary:
13 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
13 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade TJX Now!
Wells Fargo upgraded The TJX Companies (NYSE: TJX) from Market Perform to Outperform with a price target range $48-51 from $42-45.
Analyst, Evren Kopelman, said, "We believe recent comp acceleration to high-single digits could continue driven by share gains from JCPenney (NYSE: JCP) (consensus estimates assume JCP sales decline $2B in 2012), traction with advertising, recovery in international comps, and faster inventory turns (resulting in fresher product). With macro pressures continuing in the U.S. and Europe, we think the consumer will continue to seek value in the off-price channel. Longer term, growth opportunities exist with stores (U.S. and international) and ecommerce."
"We are raising our 2012E/2013E EPS to $2.42/$2.75 from $2.40/2.70 and our valuation range to $48-51 (from $42-45) based on 17.5-18.5x our 2013E EPS, a higher multiple than historical averages given accelerating growth."
For an analyst ratings summary and ratings history on The TJX Companies click here. For more ratings news on The TJX Companies click here.
Shares of The TJX Companies closed at $43.11 yesterday, with a 52 week range of $33.99-$69.01.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Evren Kopelman, said, "We believe recent comp acceleration to high-single digits could continue driven by share gains from JCPenney (NYSE: JCP) (consensus estimates assume JCP sales decline $2B in 2012), traction with advertising, recovery in international comps, and faster inventory turns (resulting in fresher product). With macro pressures continuing in the U.S. and Europe, we think the consumer will continue to seek value in the off-price channel. Longer term, growth opportunities exist with stores (U.S. and international) and ecommerce."
"We are raising our 2012E/2013E EPS to $2.42/$2.75 from $2.40/2.70 and our valuation range to $48-51 (from $42-45) based on 17.5-18.5x our 2013E EPS, a higher multiple than historical averages given accelerating growth."
For an analyst ratings summary and ratings history on The TJX Companies click here. For more ratings news on The TJX Companies click here.
Shares of The TJX Companies closed at $43.11 yesterday, with a 52 week range of $33.99-$69.01.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Hewlett-Packard (HPQ) Q2 Performance Wins Praise on Wall Street; Jefferies Raises to Hold
- Toll Bros. (TOL) Q2 Solid but Not Much Better Than Peers
- Topeka Capital Upgrades Pacific Sunwear of California (PSUN) to Buy
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, UpgradesRelated Entities
Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
