TJX price target raised to $129 from $122 at Morgan Stanley

Morgan Stanley raised the firm’s price target on TJX to $129 from $122 and keeps an Overweight rating on the shares. A “clean beat & raise” in Q2 gives the firm further confidence that TJX’s margin profile has structurally stepped up and likely has additional runway, says the firm, which argues that this merits the stock “receiving an above-history multiple.” The firm continues to highlight TJX as on one of its “top Retail Overweight calls heading into a tough 2H Retail backdrop,” the analyst added.