Nomura Securities Maintains a 'Buy' on The TJX Companies (TJX); Adjusting Estimates
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Price: $150.85 --0%
Rating Summary:
37 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 36
Rating Summary:
37 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 36
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Nomura Securities maintains a 'Buy' on The TJX Companies (NYSE: TJX) price target of $60.00.
Nomura analyst, Paul Lejuez, said, "Although the market was disappointed that TJX did not raise guidance (while off-price competitor ROST did), TJX’s core business remains very strong. Currency headwinds and warm weather in Europe obscured what otherwise would have been a strong month (resulting in a guidance raise). We continue to believe TJX is well positioned in the current macro and inflationary environment. We are lowering our 4Q11E EPS from $1.28 to $1.26 to reflect the strong U.S. dollar, though offset by slightly higher merchandise margins than previously forecast. Our F11E is now $4.06 vs. $4.08 previously. We are also reducing our F12E from $4.50 to $4.34. No change to our PT of $60 or ~15x our F11E and ~14x our F12, approximately in line with the softlines group median."
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 $55.60 yesterday.
Nomura analyst, Paul Lejuez, said, "Although the market was disappointed that TJX did not raise guidance (while off-price competitor ROST did), TJX’s core business remains very strong. Currency headwinds and warm weather in Europe obscured what otherwise would have been a strong month (resulting in a guidance raise). We continue to believe TJX is well positioned in the current macro and inflationary environment. We are lowering our 4Q11E EPS from $1.28 to $1.26 to reflect the strong U.S. dollar, though offset by slightly higher merchandise margins than previously forecast. Our F11E is now $4.06 vs. $4.08 previously. We are also reducing our F12E from $4.50 to $4.34. No change to our PT of $60 or ~15x our F11E and ~14x our F12, approximately in line with the softlines group median."
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 $55.60 yesterday.
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