Market Overview

UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Raises PT on TJX Companies

Related TJX
MKM Partner's Quick Take On Holiday Traffic At Department Stores, Retailers
Stocks Hitting 52-Week Highs
Making Money With Charles Payne: 11/25/14 (Fox Business)

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating on TJX Companies (NYSE: TJX), and raised its price target from $46.00 to $49.00.

BofA Merrill Lynch noted, “TJX reported 2Q EPS of $0.56, ahead of our $0.55 estimate on higher gross margins than we expected. The company stated that August is off to a strong start and expects comps to be up 5-6% for the month. Guidance for 3Q comps to be up 2-4% is in line with our 3.3% forecast, but we see potential for upside given TJX's strong momentum. Annual guidance was raised by a penny to $2.39-2.45 given the beat in 2Q. We are raising our F2013 (calendar 2012) EPS est. by a penny to $2.42 to reflect the 2Q beat. We are also increasing our Price Objective by $3 to $49 to reflect a higher target multiple given TJX's strong momentum. We maintain our Buy rating and expect continued comp and market share gains.”

TJX Companies closed on Tuesday at $45.03.

Latest Ratings for TJX

DateFirmActionFromTo
Dec 2014Goldman SachsUpgradesNeutralBuy
Nov 2014JP MorganUpgradesNeutralOverweight
Nov 2014Morgan StanleyReiteratesEqual-weight

View More Analyst Ratings for TJX
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

Related Articles (TJX)

Around the Web, We're Loving...

Get Benzinga's Newsletters