UBS Reaffirms Bullish Outlook on The TJX Companies (TJX) Following Strong Consumer Survey

The TJX Companies, Inc. (NYSE:TJX) ranks among the best set-it-and-forget-it stocks to buy right now. On June 9, UBS reaffirmed its Buy rating and $197 price target for The TJX Companies, Inc. (NYSE:TJX), citing data gathered from the 9th annual US Off-Price and Department Store Retailers Consumer Survey. According to the report, 71% of respondents believe T.J. Maxx provides excellent value for money in comparison to other department stores.

Based on the most recent poll wave, 78% of respondents cited T.J. Maxx’s wide assortment and products as an incentive to shop, a rise from 44% in Wave 8 and 37% in Wave 6. With 62% relevance, assortment breadth ranks as one of the most important decision-making factors.

Additionally, Truist Securities maintained a buy rating on The TJX Companies, Inc. (NYSE:TJX) on May 21 while increasing its price target from $175 to $190. The price target hike comes after TJX’s recent earnings report, which highlighted results that beat forecasts across a variety of metrics.

Instead of pointing to more general macroeconomic strength, Truist ascribed the outperformance to TJX’s competitive positioning and advantageous circumstances in the off-price retail industry.

The TJX Companies, Inc. (NYSE:TJX) is a well-known off-price clothing and home fashion retailer. Its store brands include T.J. Maxx, Marshalls, and HomeGoods, as well as international names such as T.K. Maxx and Winners.

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