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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Bank of America research analyst Lorraine Hutchinson reiterated a Buy rating on TJX Companies Inc (NYSE:TJX) with a price target of $75.00.
- The analyst said the company had posted a surprising earnings beat, driven by stronger margins offsetting a sales miss.
- Hutchinson thinks the cut in the guidance is the reset that investors were looking for and added that she is encouraged by the better margins even in the face of weaker sales.
- She said TJX’s gross margin dropped due to freight pressure, but better pricing helped cope.
- According to Hutchinson, the potential risks to the company’s growth going forward include prolonged fleet-wide store closures due to the coronavirus, continued margin pressure as TJX absorbs wage and freight inflation and supply chain expenses, and possible weakness in Europe.
- She concluded that TJX has outperformed the retail industry domestically, has a solid international growth opportunity, significant square footage growth potential, and a strong track record of returning excess cash to shareholders.
- Price Action: TJX shares are trading higher by 0.33% at $66.90 on the last check Wednesday.
- Photo via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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