NEW YORK (TheStreet) -- Shares of TJX Cos. (TJX) - Get Report are trading higher by 2.04% to $76.05 on Wednesday afternoon, and continues to be "a great name to know in a period of uncertainty and volatility." according to BMO Capital's John Morris.
In the wake of Brexit, investors are seeking opportunities within the market that could yield consistent and positive results, and one stock to pay attention to is TJX, which Morris believes could be just that, he said this afternoon on CNBC's "Fast Money Halftime Report."
One of the main reasons Morris sees TJX as enticing to investors is that it only does 8%-10% of its business within the U.K., adding "This is a company that tends to benefit because of the off-price nature of the selling." Moreover, Morris said, "TJX can benefit from the trading down of the consumer, if you will, to pick up some share."
Especially in a post-Brexit market which has seen department stores take a hit, Morris feels as if off-retail businesses like TJX are companies looking to take advantage of the downturns: "The department store's pain is really the off-pricer's gain," he noted.
Keeping an eye to the future TJX, Morris reiterated that the stock has "so many positive tailwinds." He views these coming from not only the executives, but strong management and balance sheets, adding "it would take an unimaginable disaster to thwart it."
Separately, TheStreet Ratings has set a "Buy" rating and a score of A- on TJX stock. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that TheStreet Ratings rate.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and largely solid financial position with reasonable debt levels by most measures.TheStreet Ratings feel its strengths outweigh the fact that the company shows weak operating cash flow.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: