TJX Companies Inc (NYSE:TJX) reported strong second-quarter results, earnings exceeding expectations, "driven by solid operational execution and sales as well as a lower tariff impact than expected," according to Telsey Advisory Group.
The TJX Companies Holding Analyst: Analyst Dana Telsey maintained an Outperform rating, while raising the price target from $150 to $155.
The TJX Companies Thesis: While the company is facing direct and indirect impact from tariffs, it has been "actively offsetting the impact through flexible sourcing, disciplined buying closer to market, and selective pricing adjustments that maintain its value proposition, in addition to a continued focus on cost efficiencies," Telsey said in the note.
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TJX Companies achieved margin expansion in the second quarter due to lower-than-expected tariff costs, and the company is likely to offset the tariff impact in the third and fourth quarters with its mitigation strategies, he added.
The company is expected to continue gaining market share, with maintaining profitability, "supported by steady comp growth and strategic new store openings," the analyst wrote.
TJX Companies is poised to benefit from the heightened focus of consumers on value across income levels, he further stated.
TJX Price Action: Shares of TJX Companies had declined by 0.97% to $136.90 at the time of publication on Thursday.
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