Citi Reiterates Buy Rating on The TJX Companies (TJX), Expects 2Q Beat and Raise and Improvement at HomeGoods

Citi analyst Paul Lejuez reiterated a Buy rating and $90.00 price target on The TJX Companies (NYSE: TJX).

"We expect a slight 2Q beat vs consensus and guidance. We are at $0.77 vs consensus of $0.76 and guidance of $0.72-0.75. Placer data show store traffic trends accelerated in 2Q at TJ Maxx/Marshalls and, more significantly, at HomeGoods, which is a positive indicator for the quarter. An inflection at HomeGoods would be particularly important, given that home has been a pressure point. We expect the company to roll through the 2Q beat to annual guidance (similar to 1Q, though in 1Q they also raised an additional $0.02 based on better freight expectations). Based on our crowding analysis, TJX is one of the most crowded longs in our group and the favorite off-pricer among investors. While we believe expectations are relatively high, we expect 2Q to be a positive data point."

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 $86.29 yesterday.

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