• 
• See all for Dividend.com
• View Print Version

• Best Dividend Stocks
• High-Yield Dividend Stocks
• Ex-Dividend Calendar

• JCP 50% Rate It
• TJX 50% Rate It

Discount apparel and home goods retailer The TJX Companies, Inc. ( TJX ) on Thursday caught a big upgrade from analysts at Wells Fargo.

The firm boosted its rating on TJX from "Market Perform" to "Outperform" and lifted its price target range from $42-45 to $48-51. That new range suggests up to an 18% upside to the stock's Wednesday closing price of $43.11.

A Wells Fargo analyst commented, "We believe recent comp acceleration to high-single digits could continue driven by share gains from JCPenney ( JCP ) (consensus estimates assume JCP sales decline $2B in 2012), traction with advertising, recovery in international comps, and faster inventory turns (resulting in fresher product). With macro pressures continuing in the U.S. and Europe, we think the consumer will continue to seek value in the off-price channel. Longer term, growth opportunities exist with stores (U.S. and international) and ecommerce."

Continuing, "We are raising our 2012E/2013E EPS to $2.42/$2.75 from $2.40/2.70 and our valuation range to $48-51 (from $42-45) based on 17.5-18.5x our 2013E EPS, a higher multiple than historical averages given accelerating growth."

The TJX Companies shares rose 24 cents, or +0.6%, in premarket trading Thursday.

The Bottom Line
Shares of TJX Companies ( TJX ) have a 1.07% dividend yield, based on last night's closing stock price of $43.11. The stock has technical support in the $39-$40 price area. The stock is trading near all-time highs.

The TJX Companies, Inc. ( TJX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

Related Stocks Articles

• 
  CFO at Duke Realty Resigns, Joins JLL - Analyst Blog
  5/17/2013 05:28 PM
• 
  Pitney to Divest Management Biz - Analyst Blog
  5/17/2013 05:27 PM
• 
  Strange Business: Communists Protest Outside Barbie's Dreamhouse
  5/17/2013 04:53 PM