Nomura Securities maintains a 'Buy' on The TJX Companies (TJX); Raising PT & Estimates
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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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Nomura Securities maintains a 'Buy' on The TJX Companies (NYSE: TJX) price target raised from $36 to $38.
Analyst, Paul Lejuez, said, "Although the qtr held few surprises, the strong start to February (comps expected to be +7%) is encouraging. The strong comp trend, combined with mgmt’s expectations for an increase in merch margin in 1Q and F12 tells us the off-price model is still going strong (no surprise, but good to hear). We believe TJX can beat consensus forecasts in F12. We are increasing our F12E from $2.30 to $2.38 based on higher comps and margins than previously forecast. We are also introducing our F13E of $2.67. We are increasing our TP to $38. Our TP represents 16x our F12E EPS, slightly above the softlines group median. We continue to like TJX’s off-price business model and expect it to perform well in good times and bad."
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 $35.13 yesterday.
Analyst, Paul Lejuez, said, "Although the qtr held few surprises, the strong start to February (comps expected to be +7%) is encouraging. The strong comp trend, combined with mgmt’s expectations for an increase in merch margin in 1Q and F12 tells us the off-price model is still going strong (no surprise, but good to hear). We believe TJX can beat consensus forecasts in F12. We are increasing our F12E from $2.30 to $2.38 based on higher comps and margins than previously forecast. We are also introducing our F13E of $2.67. We are increasing our TP to $38. Our TP represents 16x our F12E EPS, slightly above the softlines group median. We continue to like TJX’s off-price business model and expect it to perform well in good times and bad."
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 $35.13 yesterday.
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