MKM Analysts Continue to See Blue Skies for TJX Companies (TJX)
MKM analysts reported on Wednesday, that they see fashion retailer, The TJX Companies, Inc.(TJX) continuing with their recent strong performance.
The firm currently has a rating of a “Buy” with a price target of $50 for the company. This price target suggest 16.3% increase over the stock’s current price of $41.84.
Analyst Patrick McKeever, commented “while we can’t argue with taking some profits in TJX here with its 30% YTD run and the step-up in comparisons that begins in December and will continue through much of FY13, we continue to believe the company is among the best-positioned retailers and view the stock as a core long-term holding.”
The company’s share increased this week after TJX reported strong third quarter results. Analysts see TJX continuing with its strong earnings, increased traffic, and margin expansion.
TJX Companies shares were mostly flat Wednesday afternoon. The stock is up 30% YTD.
The Bottom Line
Shares of TJX Companies (TJX) have a 1.09% dividend yield, based on last night’s closing stock price of $42.06. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $31-$32 price levels.
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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