TJX Analysts Increase Their Forecasts After Q3 Results

TJX Companies Inc TJX issued weak profit forecast for the fourth quarter.

TJX reported third-quarter FY24 sales growth of 9% year-on-year to $13.3 billion, beating the analyst consensus estimate of $13.08 billion. EPS of $1.03 beat the consensus estimate of $0.99.

For the fourth quarter, TJX said it now sees adjusted EPS between 97 cents and $1, down from its earlier forecast of between $1 and $1.03.

TJX shares fell 1.8% to trade at $87.78 on Thursday.

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

• Telsey Advisory Group raised the price target on TJX from $100 to $105. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Morgan Stanley increased the price target on TJX from $99 to $101. Morgan Stanley analyst Alexandra Steiger maintained an Overweight rating.

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