Truist Securities increased its price target on The TJX Companies stock to $190 from $175, maintaining a Buy rating.
The move follows TJX's strong quarterly earnings, which exceeded expectations. The company also raised its guidance.
TJX shares rose 6% after the earnings, compared to a 1% gain in the S&P 500.
Truist highlighted TJX's competitive positioning and favorable conditions in the off-price retail sector.
The firm believes TJX is gaining market share and expects this trend to continue.
