Collins Stewart Starts The TJX Companies (TJX) at Buy; Domestic Operations Continue to Perform Well
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Price: $152.11 -1.11%
Rating Summary:
37 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
37 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Collins Stewart initiates coverage on The TJX Companies (NYSE: TJX) with a Buy. PT $75.00.
Collins analyst says, "We believe TJX has a competitive advantage versus many full-price retailers in the current operating climate. The company has recently been stocking stores with an abundance of high-quality product, and its value offerings continue to resonate with budget-conscious shoppers during a slow economic recovery. TJX should continue to benefit as many retailers have raised prices in an effort to combat higher product costs, which are likely to continue to pinch margins in H1:12. There is still an opportunity for TJX to gain market share in the U.S., and the company has increased its marketing spend, which should help drive traffic. TJX kicked off the holiday season in the U.S. on a solid note, registering mid-single-digit SSS gains in the MarMaxx and HomeGoods segments in November...we believe shares remain attractively valued at 14x our FY12 EPS estimate and 7x FY12E EV/EBITDA."
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 $61.52 yesterday.
Collins analyst says, "We believe TJX has a competitive advantage versus many full-price retailers in the current operating climate. The company has recently been stocking stores with an abundance of high-quality product, and its value offerings continue to resonate with budget-conscious shoppers during a slow economic recovery. TJX should continue to benefit as many retailers have raised prices in an effort to combat higher product costs, which are likely to continue to pinch margins in H1:12. There is still an opportunity for TJX to gain market share in the U.S., and the company has increased its marketing spend, which should help drive traffic. TJX kicked off the holiday season in the U.S. on a solid note, registering mid-single-digit SSS gains in the MarMaxx and HomeGoods segments in November...we believe shares remain attractively valued at 14x our FY12 EPS estimate and 7x FY12E EV/EBITDA."
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 $61.52 yesterday.
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