Mixed Expectations for TJX

TJX Corporation (NYSE: TJX), the parent company of T.J. Maxx and Marshalls, is receiving mixed analyst color this morning. The company was downgraded to “Buy” from “Conviction Buy” over at Goldman Sachs, but the retailer was reiterated a “Buy” via a research report by Soleil Securities with a price target upgrade to $55 from $48. Jeff Stein at Soleil Securities believes that Q1 sales are running well ahead of plan, so much so that they are upping estimates by $0.17 to $0.77 for the quarter; that’s a 28.3% increase, folks!

The company still looks fundamentally cheap here. Based off of the $3.45 2011 EPS number, forward P/E is only 12.85x. Historically the company trades at 16.4x giving the stock room to the $56.50 level. TJX Corporation hit a new 52-week high yesterday and is pulling back slightly today, 1.03%, to $44.36.