Collins Stewart Raises Price Target on The TJX Companies (TJX) As December Comps Trump Expectations

Collins Stewart is reiterating its Buy rating on shares of The TJX Companies (NYSE: TJX) and is increasing its price target from $75 to $76 following the release of its December same-store-sales results.

The company reported a 8 percent increase in December comps, well above the Street's and firm's estimates of 2.4 percent and 2 percent. The firm reports the upside was die to comps increases topping expectations across all sectors.

Although December proved to be a very strong quarter for the company, management reaffirmed its previous Q4 guidance of $1.19-$1.23 in earnings per share on a 1-3 percent increase in comps.

Due to the strong trends around TJX, Collins Stewart has raised its FY13 EPS estimate from $4.49 to $4.52. The firm reaffirmed its FY12 estimate of $3.97.

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 $64.43 yesterday.

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