Analyst John Kernan of TD Cowen maintained a Buy rating on TJX Companies, boosting the price target to $162.00.
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John Kernan has given his Buy rating due to a combination of factors that highlight TJX Companies’ strong market position and potential for growth. Kernan notes that TJX is well-positioned to capitalize on the strengths of the off-price retail sector, which benefits from consumer demand for value and convenience. He anticipates a positive performance in the upcoming quarters, with expectations of same-store sales growth exceeding consensus estimates.
Furthermore, Kernan points out that TJX is likely to experience improved margins due to reduced markdowns and effective buying strategies, despite challenges such as foreign exchange and tariffs. The company’s ability to manage these pressures while maintaining competitive pricing is seen as a key advantage. Additionally, Kernan believes that TJX’s financial guidance is conservative, suggesting potential for the company to exceed expectations, particularly during the holiday season, which supports his Buy rating.
In another report released on November 3, Citi also maintained a Buy rating on the stock with a $160.00 price target.
Based on the recent corporate insider activity of 39 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.