TJX price target raised to $120 from $110 at Piper Sandler

Piper Sandler raised the firm’s price target on TJX to $120 from $110 and keeps an Overweight rating on the shares. The recent increase in user generated TikTok content on the off-price channel highlights the favorable secular dynamics within the space, the firm says. Piper’s analysis of haul creators points to a mid-20 year old female or a late 20/early 30 young mother that are increasingly turning to off-price. The TJX customer is more affluent and more likely to be a college student, the firm adds.