UBS upgraded TJX to Buy from Neutral with a price target of $132, up from $104. The analyst believes off-price retailers like TJX will take more share from department stores than previously though. Not only can TJX continue opening stores in its core banners, but its newer businesses such as HomeSense and Sierra Trading Post “have big potential, as does its Europe operation,” the analyst tells investors in a research note. The firm says its new UBS Evidence Lab 2024 softlines survey data suggests potential e-commerce disruption “is not the existential threat we thought it was.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TJX:
- Monster downgraded, Five Below upgraded: Wall Street’s top analyst calls
- TJX upgraded to Buy from Neutral at Goldman Sachs
- TJX put volume heavy and directionally bearish
- Bigger Refunds, Busier Stores: How Tax Season Could Boost Retail Stocks
- Market Misalignment Risks for TJX: Navigating Volatility and Protecting Shareholder Value