Shares of TJX Companies Inc (NYSE:TJX) tanked in early trading on Thursday, despite the company Monday reporting upbeat first-quarter results.
Here are the key analyst insights:
- BTIG analyst Robert Drbul reiterated a Buy rating, while lifting the price target from $185 to $190.
- BofA Securities analyst Lorraine Hutchinson maintained a Buy rating and price target of $175.
Check out other analyst stock ratings.
BTIG: TJX Companies reported a beat on both sales and margins. Transactions and basket size drove comps. “Performance was strong across all income cohorts and geographic regions, with no signs of consumer weakness,” Drbul said in a note.
The analyst stated that the company has several strategies to drive comp strength and gain market share, including:
- Marketing: Management is targeting a broad customer demographic, with new campaigns and partnerships expected this year.
- Merchandise: Product availability is improving …