Analyst John Kernan of TD Cowen maintained a Buy rating on TJX Companies, boosting the price target to $167.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
John Kernan has given his Buy rating due to a combination of factors that suggest strong future performance for TJX Companies. The company’s recent performance has exceeded expectations, with key segments like MarMaxx and HomeGoods showing robust growth in traffic and basket size, leading to better-than-expected earnings per share. Kernan notes that the gross margin improvements, driven by lower freight costs and reduced shrink, have contributed positively to the company’s financial health.
Looking ahead, Kernan anticipates that TJX will continue to outperform consensus estimates, particularly in the upcoming fourth quarter. He expects consistency in traffic and ticket growth, with Marmaxx and HomeGoods segments poised for further gains. The company’s strategic inventory management and favorable market conditions in apparel, home, and other categories are expected to sustain this momentum, supporting a positive outlook into fiscal year 2027. These factors collectively underpin Kernan’s optimistic Buy rating for TJX Companies.
In another report released today, Evercore ISI also maintained a Buy rating on the stock with a $165.00 price target.