Discount apparel and home goods retailer The TJX Companies, Inc. ( TJX ) on Monday caught a big upgrade from analysts at Goldman Sachs.
The firm said it boosted its rating on TJX to "Conviction Buy" and lifted its price target from $61 to $66. That new target suggests a 25% upside to the stock's Friday closing price of $52.70.
Goldman noted that during uncertain economic times, TJX offers an attractive risk/reward. As a result, the firm's estimates for the company through 2013 are above the Wall Street consensus.
The TJX Companies shares fell 45 cents, or -0.9%, in premarket trading Monday.
The Bottom Line
Shares of TJX Companies ( TJX ) have a 1.44% dividend yield, based on Friday's closing stock price of $52.70. The stock has technical support in the $48-$50 price area. If the stock can firm up, we see overhead resistance around the all-time high levels 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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