The TJX Companies (TJX) PT Raised to $155 at Telsey

Telsey analyst Dana Telsey raised the price target on The TJX Companies (NYSE: TJX) to $155.00 (from $150.00) while maintaining a Outperform rating.

The analyst commented: "TJX posted another strong quarterly performance, with second quarter EPS exceeding guidance and topping consensus, driven by solid operational execution and sales as well as a lower tariff impact than expected. Despite ongoing macroeconomic challenges, TJX continues to demonstrate resilience and consistency. In our view, the company’s repeated earnings beats highlight the strength of its value-focused proposition, which continues to resonate with consumers amid an increasingly price-sensitive environment. In addition, a favorable off-price buying landscape continues to enable TJX to effectively meet traffic and demand. Looking ahead, we expect TJX to continue gaining profitable market share, supported by steady comp growth and strategic new store openings. With the solid earnings beat and a raised annual outlook, we do not see any significant changes to expectations for continued strength in performance, which we view as encouraging given broader economic uncertainties. Importantly, TJX remains well-positioned to benefit from consumers’ heightened focus on value across income levels. Therefore, we maintain our Outperform rating. On continued solid execution and momentum in a challenging environment, we raise our price target up to $155 (from $150 prior), which assumes a 19.0x multiple on our two-year forward EBITDA estimate, roughly in line with the recent NTM multiple of 19.3x."

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