Wedbush Starts The TJX Companies (TJX) at Neutral
Wedbush initiated coverage on The TJX Companies (NYSE: TJX) with a Neutral rating and PT of $63.00.
"2014 sets up well for off-price. We highlight the following catalysts for the offprice sector in 2014: (1) SSS acceleration driven by the easiest comparisons since 2008 and improving consumer spending, (2) a favorable buying environment following below-plan Holiday sales across most of retail, (3) ongoing market share gains, (4) lack of secular headwinds faced by specialty retail peers," said analyst Morry Brown.
"SSS likely to improve in 2014, but consensus appears to factor in most of the upside . . . Valuation also reflective of positive fundamentals, 18.5x multiple places TJX above its 17.0x two-year average," added the analyst.
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 $60.29 yesterday, with a 52 week range of $43.43-$64.38.
"2014 sets up well for off-price. We highlight the following catalysts for the offprice sector in 2014: (1) SSS acceleration driven by the easiest comparisons since 2008 and improving consumer spending, (2) a favorable buying environment following below-plan Holiday sales across most of retail, (3) ongoing market share gains, (4) lack of secular headwinds faced by specialty retail peers," said analyst Morry Brown.
"SSS likely to improve in 2014, but consensus appears to factor in most of the upside . . . Valuation also reflective of positive fundamentals, 18.5x multiple places TJX above its 17.0x two-year average," added the analyst.
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 $60.29 yesterday, with a 52 week range of $43.43-$64.38.