Jefferies Reiterates TJX Hold, Raises PT

Jefferies reiterated its TJX TJX Hold rating and raised its TJX price target from $49 to $54 in a research report published today. In the report, Jefferies states, "Once again TJX posted strong 2Q results, beating expectations slightly. Topline and margins continue on a healthy trend despite increasingly difficult compares. While the off-price business model has been very resilient and relevant in the ongoing weak economy, we believe shares are fairly valued at current levels and reiterate our Hold rating." Shares of TJX were trading at $54.87 at the time of posting, up 2.29% from Monday's market close.