#4 - TJX Companies (NYSE:TJX)
Anecdotal evidence isn’t the best reason to own a stock, but it’s hard to deny the brand loyalty that consumers have with TJX Companies Inc. (NYSE: TJX). The company is the parent of many brands, most notably TJMaxx, a favorite of Millennial and Gen-Z consumers. The store is known for its treasure hunt appeal.
The company continues to record revenue and earnings that are higher on a year-over-year basis. That’s impressive because this was expected to be a year of tougher comparisons, even for a beloved company like TJX.
The question that investors should be asking is: If this is how the company is performing with interest rates still around 5%, how will it do when the Federal Reserve cuts rates?
Analysts currently have a consensus price target of around $112 which corresponds to the current stock price. However, in July 2024, Costco has received two price target increases which suggests that TJX could have at least 10% upside.
About TJX Companies
The TJX Companies, Inc, together with its subsidiaries, operates as an off-price apparel and home fashions retailer in the United States, Canada, Europe, and Australia. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. The company sells family apparel, including footwear and accessories; home fashions, such as home basics, furniture, rugs, lighting products, giftware, soft home products, decorative accessories, tabletop, and cookware, as well as expanded pet, and gourmet food departments; jewelry and accessories; and other merchandise.
Read More - Current Price
- $115.06
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $126.76 (10.2% Upside)
