Market Overview

TJX's Growth Story Is One Of The Best In Retail

Share:
TJX's Growth Story Is One Of The Best In Retail

Retail investors looking to invest in a growth story have few options. One of the options available, at least according to Paul Lejuez of Citi is TJX Companies Inc (NYSE: TJX).

According to Lejuez, TJX showed investors in its latest earnings report that it could "hit a curveball" at a time when "others were striking out."

Specifically, the analyst cited the company's accelerating comps, traffic and gross margin, which made its first-quarter print "even stronger" than the prior quarter.

Related Link: 4 Reasons Why TJX Stands Out From The Pack

Lejuez reaffirmed a belief that weakness seen in department stores does not signal a problem with the consumer. In fact, the analyst suggested that department stores are "structurally challenged," given an ongoing shift in consumer spending toward off-price stores, like TJX.

"For perspective, the increase in 1Q sales dollars at MarMaxx and HomeGoods more than offset the dollars lost by Macy's," the analyst stated. "We believe the differences in the models are getting more pronounced, as TJX's sales and gross profit dollars have accelerated over the past couple of qtrs, while the dept store have seen the opposite occur."

Shares of TJX remain Buy rated with an unchanged $88 price target and the stock also represents "one of the best in retail" and a "top pick" in the space.

Latest Ratings for TJX

DateFirmActionFromTo
Dec 2020CitigroupDowngradesBuyNeutral
Nov 2020Morgan StanleyMaintainsOverweight
Nov 2020RBC CapitalMaintainsOutperform

View More Analyst Ratings for TJX
View the Latest Analyst Ratings

 

Related Articles (TJX)

View Comments and Join the Discussion!

Posted-In: Citi HomeGoods MArMAxx Off Price RetailersAnalyst Color Long Ideas Analyst Ratings Trading Ideas Best of Benzinga

Latest Ratings

StockFirmActionPT
WWEEvercore ISI GroupUpgrades
INTB of A SecuritiesUpgrades40.0
BLDPBMO CapitalInitiates Coverage On39.0
SSYSStifelInitiates Coverage On40.0
CMGGoldman SachsInitiates Coverage On1,650.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com