Nomura Securities Downgrades The TJX Companies (TJX) to Neutral; Valuation Call, Prefer JWN
Get Alerts TJX Hot Sheet
Price: $94.50 +0.45%
Rating Summary:
33 Buy, 8 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
33 Buy, 8 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Join SI Premium – FREE
Nomura Securities downgraded The TJX Companies (NYSE: TJX) from Buy to Neutral with a price target of $47.00.
Analyst, Paul Lejuez, said, "It is within 5% of our TP, and it is hard to see what will drive 15% upside beyond that. We believe the key merits of the TJX story are now more fully appreciated by the market, making the risk/reward more balanced. On our F13 ests, the stock trades at a P/E of 15.4x (vs. its 3 yr avg of 14.4x) and 8.3x EBITDA (vs. its avg of 7.5x), and our ests are 4-5% above consensus. We believe additional multiple expansion is limited from here as expectations have risen with its strong performance."
...We also downgraded Ross Stores (Nasdaq: ROST) from Buy to Neutral. If we had to own one, we would own ROST, given more visible square footage growth, but overall we prefer Nordstrom (NYSE: JWN)."
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 $44.28 yesterday.
Analyst, Paul Lejuez, said, "It is within 5% of our TP, and it is hard to see what will drive 15% upside beyond that. We believe the key merits of the TJX story are now more fully appreciated by the market, making the risk/reward more balanced. On our F13 ests, the stock trades at a P/E of 15.4x (vs. its 3 yr avg of 14.4x) and 8.3x EBITDA (vs. its avg of 7.5x), and our ests are 4-5% above consensus. We believe additional multiple expansion is limited from here as expectations have risen with its strong performance."
...We also downgraded Ross Stores (Nasdaq: ROST) from Buy to Neutral. If we had to own one, we would own ROST, given more visible square footage growth, but overall we prefer Nordstrom (NYSE: JWN)."
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 $44.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Evercore ISI Downgrades SunPower (SPWR) to In Line
- Apple (AAPL) PT Lowered to $210 at Morgan Stanley, 'We'd buy post-earnings weakness'
- Quest Diagnostics (DGX) PT Raised to $145 at Evercore ISI
Create E-mail Alert Related Categories
Analyst EPS View, DowngradesRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!