Several analysts raised their price targets for The TJX Companies, Inc. (NYSE:TJX) following yesterday’s strong second-quarter results.
TJX reported EPS of $0.96 (+13%) and $13.468 billion in sales, which exceeded estimates, driven by a 4% rise in comparable store sales.
The company raised its FY25 EPS outlook to $4.09-$4.13 and expects third-quarter EPS between $1.06 and $1.08, despite slightly missing estimates.
BofA Securities analyst Lorraine Hutchinson raised the price target to $135 from $115 while maintaining a Buy rating, reflecting an increased confidence in sales and profitability. The analyst writes that a strong quarter confirms its market share gains and consumer appeal.
Better buying and tailored merchandising strategies are enhancing markon and lowering markdown rates for TJX, adds the analyst.
Hutchinson anticipates these factors, combined with selective price increases, to boost merchandise margins. The analyst raised the FY25 ...
