Nomura Securities Maintains a 'Neutral' on The TJX Companies (TJX); April Comps Increased 5%

Nomura Securities maintains a 'Neutral' on The TJX Companies (NYSE: TJX).

Nomura analyst, Paul Lejuez, said, "April comps increased 5%, at the high end of our 3-5% forecast range. Marmaxx comps increased 8%, above our 4-6% forecast, with each week of the month strong. Despite the strength, we’re reducing our estimates due to lower merchandise margin and a mark to market currency hedge that should hurt in 1Q, although benefit in 2Q by the same amount: our F11E is now $3.86 vs. $3.88 previously. We continue to prefer ROST as the way to have exposure to the off-price sector."

For more ratings news on The TJX Companies click here and for the rating history of The TJX Companies click here.

Shares of The TJX Companies closed at $53.37 yesterday.

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