UPDATE: Miller Tabak Raises PT to $50 on TJX Companies on Margin Outlook
Miller Tabak maintained TJX Companies (NYSE: TJX) with a Buy rating and raised the price target from $49.00 to $50.00.
Miller Tabak commented, "In our opinion, TJX's off-price model is well-suited for a slow-growth macro environment as its broad range of value-priced branded apparel and home goods resonates with customers in the U.S., Canada and Europe. In our view, the company's competitive position is only going to become stronger with an e-commerce capability. … In our view, TJX margins can continue to improve thanks to ongoing emphasis on cost-savings and greater productivity across the organization and increased scale in Europe and at Home Goods."
TJX Companies closed at $44.77 on Wednesday.
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