The TJX Companies (TJX) PT Lowered to $75 at BMO Capital

BMO Capital analyst Simeon Siegel lowered the price target on The TJX Companies (NYSE: TJX) to $75.00 (from $80.00) while maintaining an Outperform rating following results.

The analyst commented, "Today, TJX reported a top- and bottom-line miss, joining the industry in seeing a strong Holiday but softer January trends, coupled with ongoing wage and freight inflation. Positives like higher pricing, discussions about bountiful supply and optimism long-term were offset by expense pressures and difficult 1H compares. Looking further out, we continue to believe Off Price will become increasingly important to vendors (see our "DTC’s Not All it’s Cracked Up to Be” note), and we see TJX as a long-term compounding share taker. We adjust estimates and target, maintain Outperform."

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