Discount apparel and home goods retailer The TJX Companies, Inc. ( TJX ) on Wednesday saw its price target and earnings estimates raised by analysts at Goldman Sachs.
The firm reiterated its "Conviction Buy" rating on TJX and lifted its price target from $66 to $68, suggesting a 24% upside to the stock's Tuesday closing price of $54.94.
Goldman also boosted its earnings estimates for the company through 2013, noting TJX is "prepared to zig as the economy zags." The firm commented, "TJX's 2Q EPS performance bolstered our confidence in our above consensus estimates as its resilient business model is built for this moment."
TJX shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of TJX Companies ( TJX ) have a 1.38% dividend yield, based on last night's closing stock price of $54.94. The stock has technical support in the $50-$52 price area. The stock is trading near all-time highs of $56-$57 a share.
The TJX Companies, Inc. ( TJX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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