TJX Companies Inc

TJX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$23.00	Sfmn	Ftkrmsx

TJX Earnings: Off-Price Channel Continues to Thrive as Consumers Seek Bargains; Shares Not Cheap

Noah Rohr

May 22, 2024

Wide-moat TJX Companies posted strong fiscal 2025 first-quarter results that outpaced our expectations, and we plan to raise our $74 fair value estimate by a low- to- mid-single-digit percentage as we maintain a favorable outlook for the off-price industry.

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