TD Cowen analyst John Kernan raised the firm’s price target on TJX to $119 from $104 and keeps an Outperform rating on the shares. The company’s market shares gains accelerated as comps finished up 5% on top of 4% prior – the strongest stack of the year, the analyst tells investors in a research note. The firm added that the 2% to 3% SSS guidance looks “conservative”, though the stock’s 17-times enterprise value to expected EBITDA baluation may constrain the upside for TJX.
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