J.P. Morgan Raises Estimates and Price Target on TJX Companies

J.P. Morgan has published a report on TJX CompaniesTJX that raises estimates for earnings per share and the price target. According to J.P. Morgan, "In just a few short weeks the sentiment on the stock has come full circle and today we believe TJX is one of the more crowded longs in our group as investors are betting that 1) EPS growth will accelerate in 2H now that the UK business appears to be turning while Marmaxx is comping above plan and 2) in a period of sourcing and consumer uncertainty, the model should hold up better than most." The report goes on to talk about the company's strengths, and about how TJX has raised its dividend distributions for 15 years in a row. J.P. Morgan rates TJX Companies Neutral witha price target of $56.00. TJX closed at $55.09 on that market Thursday.