Barclays Maintains Overweight Rating for TJX Companies: Here's What You Need To Know

Barclays has decided to maintain its Overweight rating of TJX Companies TJX and raise its price target from $76.00 to $94.00.

Shares of TJX Companies are trading up 0.4% over the last 24 hours, at $78.30 per share.

A move to $94.00 would account for a 20.05% increase from the current share price.

About TJX Companies

TJX is a leading off-price retailer of apparel, home fashions, and other merchandise. It sells a variety of branded goods, opportunistically buying inventory from a network of over 21,000 vendors worldwide. TJX targets undercutting conventional retailers' regular prices by 20%-60%, capitalizing on a flexible merchandising network, relatively low-frills stores, and a treasure-hunt shopping experience to drive margins and inventory turnover. TJX derived 79% of fiscal 2022 revenue from the United States, with 11% from Europe (mostly the United Kingdom and Germany), 9% from Canada, and the remainder from Australia. The company operated 4,689 stores at the end of fiscal 2022 under the T.J. Maxx, T.K. Maxx, Marshalls, HomeGoods, Winners, Homesense, Winners, and Sierra banners.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.