TJX Companies Gets a Buy Rating from Nomura

By Jason Carr

In a report released yesterday, Simeon Siegel from Nomura assigned a Buy rating to TJX Companies (NYSE: TJX), with a price target of $84. The company’s shares opened today at $73.76.

According to TipRanks.com, Siegel is a 1-star analyst with an average return of -2.9% and a 41.5% success rate. Siegel covers the Services sector, focusing on stocks such as Signet Jewelers Limited, Abercrombie Fitch, and Acushnet Holdings.

Currently, the analyst consensus on TJX Companies is Strong Buy and the average price target is $83.63, representing a 13.4% upside.

In a report issued on May 2, RBC Capital also reiterated a Buy rating on the stock with a $82 price target.

Based on TJX Companies’ latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $7.78 billion and quarterly net profit of $536 million. In comparison, last year the company earned revenue of $7.54 billion and had a net profit of $508 million.

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The TJX Cos., Inc. operates as an off-price apparel and home fashions retailer in the United States and worldwide. It operates through the following segments: Marmaxx, HomeGoods, TJX Canada, and TJX Europe. The Marmaxx segment sells family apparel including footwear and accessories, home fashions including home basics, accent furniture, lamps, rugs, wall décor, decorative accessories, giftware, and other merchandise. The HomeGoods segment offers home basics, giftware, accent furniture, lamps, rugs, wall décor, and decorative accessories. The TJX Canada segment operates the Winners, Marshalls, and HomeSense chains in Canada. The TJX Europe segment operates T.K. Maxx and HomeSense chains in Europe. The company was founded by Stanley Harris Feldberg and Sumner L. Feldberg in 1956 and is headquartered in Framingham, MA.