NEW YORK (TheStreet) -- The TJX Companies Inc (TJX) had its rating raised to "outperform" from "neutral" by analysts at Wedbush Securities with a higher price target of $68 from $63 in a research note yesterday.
Analysts at Wedbush said off-price sales and third quarter earnings for TJX appear more deliverable compared to other specialty retail companies, and noted its EPS visibility is increasingly rare in the sector.
The firm added that the long-term fundamentals for off-price are on better footing than specialty and that its valuation premium versus historical average is less than specialty peers, despite the better earnings outlook and long-term fundamentals.
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Webush believes TJX's EPS deliverability will stand out from the crowd and drive relative stock out-performance.
TJX Companies is an off-price apparel and home fashions retail company operating under Marmaxx, which is T.J. Maxx and Marshall, and HomeGoods.
Shares of TJX Companies closed at $63.32 on Friday.
Separately, TheStreet Ratings team rates TJX COMPANIES INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TJX COMPANIES INC (TJX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."