Oppenheimer Discusses TJX Companies After Earnings

Oppenheimer & Co. is out with a research report on TJX Companies, Inc. TJX after it reported earnings. It has a Perform rating on shares. In a note to clients, Oppenheimer & Co. writes, "TJX yesterday reported FY2Q12 EPS of $0.90 vs. our/consensus estimate of $0.89 vs. $0.73 a year ago. Results were driven by a 4% comp vs. 3% ly, gross margin strength (+70 bps) and controlled SG&A (+10 bps). Further details are in our note published yesterday (Quintiliano's QuickTakes ). Post the conference call, we continue to have confidence in our FY3Q EPS estimate of $1.06 (in line with consensus and guidance of $1.03-1.07) and our F4Q EPS estimate of $1.25 (above consensus of $1.22 and implied guidance of $1.19-1.23). We believe trends remain solid, but largely priced in at current levels, maintain Perform rating." Shares of TJX gained $1.31 yesterday to close at $54.94.