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Fly News Breaks for August 21, 2019
Aug 21, 2019 | 09:11 EDT
Loop Capital analyst Laura Champine is keeping her Buy rating and $60 price target on TJX after its Q2 results, but notes that the comps for the quarter were "not as robust as expected". The analyst states that the company's Home Goods business remains disappointing with flat comps against her forecast of up 3%. Champine also says the in-line Q2 EPS of 62c got a 3c left from a "more aggressive share buyback and slightly lower tax rate" than she had modeled. The analyst still recommends that investors use the pullback as a "buying opportunity" for TJX because of its market share gain potential from "strong" brand assortment and "meaningful" off-price value disparity.
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