UBS Reiterates a 'Buy' on The TJX Companies (TJX); All Cylinders Revving...Driving Growth in 2012

UBS reiterates a 'Buy' on The TJX Companies (NYSE: TJX) price target raised from $37 to $39.

UBS analyst says, "We remain bullish on TJX’s multiple catalysts for sales/EPS upside in FY12: 1) momentum at Marmaxx & HomeGoods (driven by traffic), 2) improvement in Europe/Canada (25%+ of total sales), 3) benefit from SYMS bankruptcy, 4) potential upside from AJ Wright store conversions. Management also guided to $1.2-1.3B of stock repo this year (8% of shares) and intends to raise its dividend 21%. Strong start to Q1 with Feb comps +7%; a lot to like, we reiterate our rating."

UBS also highlights TJX's investing in key initiatives (systems, e-commerce, and marketing) which should streamline operations and grow sales longer-term. UBS raises FY13 from $2.27 to $2.31 and FY14 from $2.53 to $2.59.

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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