UBS Raises The TJX Companies, Inc. Price Target And Reiterate Buy Following Earnings

In a earnings coverage report released Tuesday, UBS analyst Roxanne Meyer reiterates a Buy for The TJX Companies, Inc.

and raises the home fashion retailers price target from $63.00 to $67.00 a share. Analyst at UBS hold optimistic on TJX's future outlook, including guidance of 1 to 2 percent or greater comp growth and 4 to 5 percent square footage growth over the next ten years. The TJX Companies, Inc. released positive guidance Tuesday consisting of Q3 EPS guidance of $0.81 to $0.85, merchandise margin gains at Marmaxx stores, and an increase in traffic for July. UBS $67 price target is based on PE multiple of 18.5x, influencing a Q3 EPS forecast from $0.83 to $0.85.