Analyst Corey Tarlowe from Jefferies maintained a Buy rating on TJX Companies (TJX – Research Report) and increased the price target to $150.00 from $145.00.
Corey Tarlowe has given his Buy rating due to a combination of factors that highlight TJX Companies’ strong financial performance and growth potential. The company reported impressive fourth-quarter results, surpassing both revenue and earnings expectations, driven by a notable increase in transactions. This performance was consistent across all banners, with particularly strong results in TJX Canada and TJX International.
Additionally, TJX’s gross margin and pre-tax margin exceeded consensus estimates, supported by lower shrink, strong mark-on, and expense leverage. The company’s robust cash flow has enabled it to increase shareholder value through a dividend hike and a new stock repurchase program. Despite some conservative guidance for the upcoming fiscal year due to external headwinds, the overall outlook remains positive with opportunities for home and international expansion.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $136.00 price target.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TJX in relation to earlier this year.