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TJX · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is The TJX Companies, Inc. (TJX) stock moving?
TJX has slid from $147.38 on Oct 22 to $136.92 on Nov 10, about 7% lower, and the latest close sits just above the Nov 6 low of $134.69. Volume has run above the late-October pace since Nov 2, peaking at 10.0M shares on Nov 5, when the stock hit $146.73 intraday and then closed at $138.59, a sharp reversal. The news flow is analyst-driven: UBS kept its Buy rating but cut its target from $198 to $184, Bernstein reaffirmed Buy at $175 on Nov 3, and Cantor Fitzgerald initiated at Neutral with a $139 target, almost exactly the current price. Targets of $175 to $184 imply meaningful upside, but the trimmed UBS target and the neutral initiation show that some analysts are lowering expectations. The 8-K filed for Oct 15 covers the planned retirement of Senior EVP and Group President Kenneth Canestrari, who stops as an executive officer on Jan 31, 2027 and retires Apr 30, 2027; this is a succession item rather than a financial change. The dominant near-term catalyst is the Q3 fiscal 2027 report on Nov 18, which no news item yet quantifies, so the outlook depends heavily on that release.
News behind the analysis
- UBS Maintains Buy on TJX Companies, Lowers Price Target to $184UBS kept its Buy rating on TJX but cut its price target from $198 to $184.
- UBS Maintains Buy Rating on TJX Companies, Adjusts Price TargetUBS analyst Jay Sole kept a buy rating on TJX and lowered the target from $198 to $184.
- Cantor Fitzgerald Initiates Coverage On TJX Companies with Neutral Rating, Announces Price Target of $139Cantor Fitzgerald started coverage of TJX at Neutral with a $139 price target, close to the latest close.
- Cantor Fitzgerald Initiates Coverage of TJX Companies with Neutral RatingCantor Fitzgerald initiated TJX at neutral with a price target of $139.
- The TJX Companies, Inc. to Report Q3 Fiscal 2027 Results on November 18, 2026TJX will release Q3 fiscal 2027 results on November 18, 2026, followed by a management conference call.
- Bernstein Maintains Buy Rating and $175 Price Target for TJX CompaniesBernstein analyst Aneesha Sherman reaffirmed a Buy rating and a $175 price target on TJX.
About TJX Companies, Inc. (The)
TJX Companies is the world's largest off-price retailer, running T.J. Maxx, Marshalls, HomeGoods, Sierra and Homesense in the US, Winners in Canada, and T.K. Maxx in Europe and Australia. It buys brand-name clothing, accessories and home goods opportunistically, often excess or end-of-season stock, and sells them at prices well below department stores in a 'treasure hunt' store format, with roughly $60 billion in annual sales (fiscal year ended January 2026).
How it makes money
Nearly all revenue comes from selling merchandise in its roughly 5,000+ physical stores, with e-commerce only about 2–3% of sales. By division, Marmaxx (T.J. Maxx, Marshalls, Sierra in the US) is the largest at roughly 60% of sales. HomeGoods is roughly 15%, and TJX Canada and TJX International (Europe and Australia) together make up the remaining roughly 25% (approximate). Profit depends on buying inventory cheaply and turning it over quickly. The pretax margin was about 12% in fiscal 2026. The company also pays a dividend and buys back shares, returning about $4.3 billion to shareholders in fiscal 2026.
What usually moves TJX
- Comparable-store sales growth and customer traffic
- Availability of excess brand-name inventory to buy cheaply
- Consumer spending and trade-down behavior
- Merchandise margins, freight and tariff costs
- New store openings toward its long-term target of roughly 7,500 stores