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Fly News Breaks for November 20, 2019
TJX
Nov 20, 2019 | 07:42 EDT
DA Davidson analyst John Morris raised his price target on TJX to $70 and kept his Buy rating after its "solid" Q3 results with above consensus revenue/earnings and "healthy" gross margins. The analyst notes that the company is "capitalizing" on department store channels with a positive view on its ability to mitigate trade tariff pressure through cost savings in freight expense. Morris maintains that the consistent value proposition at TJX is driving its "increased traffic and impressive comps".