Evercore ISI analyst Michael Binetti raised the price target on The TJX Companies (NYSE: TJX) to $162.00 (from $150.00) while maintaining a Outperform rating.

The analyst comments "◼ Bottom Line: While TJX’s valuation is seldom cheap, it’s remained on our Top 5 list for some time as the most reliable share gain and EPS upside delivery name in our coverage. We have high confidence in positive revisions to Consensus top- and bottom-line forecasts for 3Q and 4Q. 2Q comps accelerated (beating our estimates and buyside bogeys), and 3Q is off to a strong start against tough August ’24 compares. The profitability model is improving, and traffic is holding up with no pushback as industry AURs start to creep higher. TJX offset tariff headwinds in 2Q and we think +10% comp inventory growth indicates the company “prebought” some near-term protection for 2H. Reiterate Outperform. Raise Target Price to $162."