Truist Assigns $175 Target to The TJX Companies; Off-Price Traffic Holds Up
TJX Companies earned a Buy rating with a $175 price target from Truist, citing its off-price scale, prime locations and competitive flywheel for visible top- and bottom-line growth. Accelerated traffic at Walmart and Target, driven by over 10,000 price cuts, indicates discretionary pullbacks have not yet hit off-price retailers.
1. Truist Initiates Coverage of The TJX Companies
Truist analysts launched coverage of The TJX Companies with a Buy rating and a $175 price target, highlighting the company’s leading off-price scale, premium product access and convenient store locations as key drivers of highly visible top- and bottom-line growth.
2. Discretionary Spending Has Yet to Hit Off-Price
Recent retail traffic data show Walmart and Target saw accelerated store visits after implementing over 10,000 price cuts on need-based items; Target also reduced its workforce by more than 8% and expects its first positive same-store sales in a year, suggesting off-price retailers remain insulated from consumer pullbacks.