Wolfe Research Starts The TJX Companies (TJX) at Outperform (Earlier)

Wolfe Research initiates coverage on The TJX Companies (NYSE: TJX) with a Outperform rating and a price target of $82.00.

Analyst Adrienne Yih Tennant commented, "Our Outperform rating is based on 1) domestic and global leader in the off-price industry, 2) off-price business model that is defensible and replicable and has been in secular growth mode since the recession, 3) low-cost operating model, and 4) consistent non-comp, comp, and earnings growth. Consumers are increasingly demanding “value,” but that no longer means just cheap prices. We believe off-pricers deliver a superior “value quotient” – the perceived worth of an item at a given price. We believe that the notion of getting a deal in the off-price channel will continue to drive this channel. TJX has built up a track record of consistent positive comps, expanding margins, and returning value."

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 $72.21 yesterday.

You May Also Be Interested In

• Gordon Haskett cuts TJX Companies rating to Accumulate
• DA Davidson Starts Everus (ECG) at Buy
• Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS