Bank of America Merrill Lynch is out with its report today on TJX TJX, initiating TJX at Buy.
In a note to clients, Bank of America Merrill Lynch writes, "We are initiating coverage on TJX Companies with a Buy rating and $68 price objective. TJX is an off-price retailer with stores in the US (TJ Maxx, Marshalls and HomeGoods), Europe and Canada. Solid execution in acquiring compelling inventory and selling it for a discount has enabled TJX to consistently grow comps despite economic challenges."
Shares of TJX closed Monday at $55.33, down 1.53% from Friday's close.
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Posted In: Analyst ColorInitiationAnalyst RatingsApparel RetailBank of America Merrill LynchConsumer Discretionary
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