The TJX Companies (TJX) PT Raised to $138 at Evercore ISI
Evercore ISI analyst Michael Binetti raised the price target on The TJX Companies (NYSE: TJX) to $138.00 (from $126.00) while maintaining a Outperform rating.
The analyst comments "TJX’s 2Q Clinic on Over-Delivering and Under-Promising for 2H: This quarter was the biggest statement yet on TJX’s leadership position as a share gainer in the sector (particularly the +5% Marmaxx comp). In our preview (link here), we noted that TJX has the most balanced growth between traffic and AUR (even compared to other dominant retailers like ROST). We were most encouraged by TJX’s comment that the entire comp was driven by transaction growth…with gains across every division. 2Q is the best example yet of how an algorithm with compounding traffic will continue to fetch a premium valuation in the Softlines space."