These Analysts Boost Their Forecasts On TJX Companies After Upbeat Q2 Earnings

TJX Companies Inc TJX reported better-than-expected second-quarter earnings.

TJX reported second-quarter FY24 sales growth of 8% year-on-year to $12.76 billion, beating the analyst consensus estimate of $12.45 billion. EPS of $0.85 beat the analyst consensus of $0.77.

TJX now plans overall comparable store sales to be up 3%-4% (prior view up 2%-3%) for FY24. The company raised FY24 adjusted EPS outlook to $3.56 - $3.62 (prior view $3.39 - $3.48) against the consensus of $3.59.

For the third quarter, TJX expects comparable store sales to be up 3% to 4%. It expects EPS of $0.95 - $0.98, against the consensus of $0.96.

TJX shares gained 4.1% to close at $89.31 on Wednesday but lost 0.3% in today’s pre-market trading session.

These analysts made changes to their price targets on TJX following earnings announcement.

• Telsey Advisory Group increased the price target on TJX from $95 to $100. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Barclays boosted the price target on TJX from $101 to $107. Barclays analyst Adrienne Yih maintained an Overweight rating.
• B of A Securities raised the price target on TJX from $94 to $102. B of A Securities analyst Lorraine Hutchinson maintained a Buy rating.
• Baird increased the price target on TJX from $90 to $96. Baird analyst Mark Altschwager maintained an Outperform rating.
• Wells Fargo raised the price target on TJX from $80 to $88. Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating.
• BMO Capital boosted the price target on TJX from $85 to $95. BMO Capital analyst Simeon Siegel maintained an Outperform rating.

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