TJX price target raised to $138 from $126 at Evercore ISI

Evercore ISI raised the firm’s price target on TJX to $138 from $126 and keeps an Outperform rating on the shares. The Q2 reports was a “clinic on over-delivering and under-promising,” as well as “the biggest statement yet on TJX’s leadership position as a share gainer in the sector,” the analyst tells investors. The firm, which says it was “most encouraged” by TJX’s comment that the entire comp was driven by transaction growth, with gains across every division, calls the quarterly report the “best example yet of how an algorithm with compounding traffic will continue to fetch a premium valuation in the Softlines space.”