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TJX Companies (TJX) Gets a Buy Rating from Wells Fargo

In a report issued on February 1, Ike Boruchow from Wells Fargo maintained a Buy rating on TJX Companies (TJXResearch Report), with a price target of $80.00. The company’s shares closed last Monday at $69.35.

According to TipRanks.com, Boruchow is a 3-star analyst with an average return of 2.8% and a 45.5% success rate. Boruchow covers the Consumer Goods sector, focusing on stocks such as aka Brands Holding Corp, Canada Goose Holdings, and Lululemon Athletica.

TJX Companies has an analyst consensus of Strong Buy, with a price target consensus of $87.24, which is a 25.4% upside from current levels. In a report issued on January 28, Citigroup also maintained a Buy rating on the stock with a $81.00 price target.

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Based on TJX Companies’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $12.53 billion and net profit of $1.02 billion. In comparison, last year the company earned revenue of $10.12 billion and had a net profit of $867 million.

Based on the recent corporate insider activity of 46 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. Most recently, in December 2021, Ernie Herrman, the CEO & President of TJX sold 58,460 shares for a total of $4,116,753.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The TJX Companies, Inc. is a leading off-price retailer of apparel and home fashion products. It operates T.J. Maxx and Marshalls (Marmaxx), HomeGoods, Sierra, and Homesense, as well as tjmaxx.com, marshalls.com, and sierra.com, in the U.S.; Winners, HomeSense, and Marshalls (TJX Canada) in Canada; and T.K. Maxx in the U.K., Ireland, Germany, Poland, Austria, the Netherlands, and Australia, as well as Homesense in the U.K. and Ireland, and tkmaxx.com in the U.K. (TJX International).

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