TD Cowen Reiterates Buy on TJX, Lifts Price Target on Easing Tariffs

TD Cowen maintained its Buy rating on The TJX Companies Inc. (NYSE:TJX) on Tuesday while raising the price target from $140 to $142. The firm's analyst John Kernan believes that the reduction in China tariff rates was a relief given the size of TJX’s vendor exposure to China.

John Kernan also anticipates a strong off-price buying environment in H2 2025, combined with the effective merchandising strategies at MarMaxx, which suggests potential for increased same-store sales.  He believes that TJX's ability to offer significant value to consumers, a diverse product range, and robust US gross margins positions the company well in economic uncertainties.

Furthermore, Kernan noted management's increased confidence in inventory availability and potential for improved buying conditions after Liberation Day. The TJX Companies Inc. (NYSE:TJX) is a global off-price apparel and home fashions retailer. It operates through four segments: Marmaxx, HomeGoods, TJX Canada, and TJX International. It sells its products through stores and e-commerce sites.

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Disclosure: None. This article is originally published at Insider Monkey.