TJX initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of TJX with an Outperform rating and $105 price target. TJX has come a long way over the past two years and has emerged from the COVID complexity with an even wider and more reliable execution lead versus its off-price peers, the analyst tells investors in a research note. The firm says this should support “top-of-group growth and the case for a P/E premium.”