We're raising our price target on TJX after a strong beat and raise

TJX Companies on Wednesday reported a beat-and-raise quarter as consumers continue to focus on getting the most bang for their depreciating buck. The stock is a bright spot in the banged-up retail sector. Revenue in the three months ended Nov. 1 increased 7.5% year over year to $15.12 billion, exceeding the consensus estimate of $14.85 billion, according to LSEG. Earnings per share (EPS) in the period came in at $1.28, beating expectations of $1.22 and indicating year-over-year growth of more than 12%. Same-store sales also came in ahead of expectations at 5%, better than the 4% the Street was looking for, according to FactSet. Shares of TJX, owner of T.J. Maxx, Marshalls, Homesense, Sierra, and HomeGoods, gave up early-session gains — a move we attribute to profit-taking, as the initial r