TJX Companies Reports Strong 3Q Results

Deutsche Bank has published its company update on The TJX Companies TJX following TJX's strong 3Q results. Deutsche Bank writes, "Though 3Q sales and EPS results had already been pre-announced, we thought that management's call commentary touched on key positive themes. In particular, what's clear to us is that TJX's fundamentals are running very strong and even more importantly in the near-term, guidance is satisfying investor expectations during a 4Q of ‘tough compares'. Maintain Buy, as 4Q momentum, LT margin sustainability, and attractive valuation outweigh risks at TK Maxx. $52 PT based on 13.8x our FY11 model." TJX last traded at $45.40.