TJX Companies Inc

TJX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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TJX Earnings: The Off-Price Channel Continues to Resonate With Shoppers, but Shares Look Pricey

Noah Rohr

Nov 20, 2024

We plan to modestly raise our $81 fair value estimate on wide-moat TJX due to the time value of money as the firm's strong third-quarter results landed mostly in line with our expectations. While we look favorably upon the firm's resilient business model and stout competitive standing, we think shares look very overvalued and recommend that investors wait for a more attractive entry point.

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TJX Companies Inc

TJX Earnings: The Off-Price Channel Continues to Resonate With Shoppers, but Shares Look Pricey

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