TJX price target raised to $100 from $98 at Bernstein

Bernstein raised the firm’s price target on TJX to $100 from $98 and keeps an Outperform rating on the shares. The firm notes TJX printed a solid Q3, grabbing market share from a weak retail sector, as trade-down and trade-across from strong U.S. traffic. Q4 guidance was left unchanged but still feels a bit soft given the strong Q3 numbers, Bernstein adds. The firm comes in 2c ahead of Q4 EPS on stronger comp and gross margin, expecting another strong quarter as off-price continues to gain share and trade-down traffic this year.