Nomura Securities Maintains a 'Buy' on The TJX Companies (TJX); Highlights From Investor Day

Nomura Securities maintains a 'Buy' on The TJX Companies (NYSE: TJX) price target of $60.00.

Nomura analyst, Paul Lejuez, says, "“Growth” took center stage at the TJX Analyst Day. Despite some recent bumps in the road including difficulties in Canada and Europe, the off-price business model is very much intact and we continue to view TJX stock as a top name to own in this environment. After growing sq ft 2-3% this year, management is targeting 4-5% growth over the next few years. A few other items that caught our attention: (1) Improved systems provide a 2-3 year opportunity to flow goods more efficiently; (2) European real estate opportunity is “off the charts” (favorable deals); (3) E-comm is in its future (but no details were provided). The stock trades at 13.1x our F12E ($4.50) and 6.8x our F12E EBITDA."

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 $58.54 yesterday.

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