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Fly News Breaks for October 8, 2015
TJX
Oct 8, 2015 | 08:02 EDT
After TJX announced that its board had approved a succession plan that involves the president of TJX, Ernie Herrman,succeeding the current CEO, Carol Meyrowitz who will become executive chairman, Bernstein thinks the transition appears to be "seamless" and will provide "more clarity and stability" for the company. The firm believes that Herrman's promotion reaffirms the company's commitment to expanding overseas. Bernstein keeps an $83 price target and Outperform rating on the shares.
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