Cowen Bets Big on This "Impressive" Retailer

Options look affordable right now on TJX, too

Emma Duncan

Managing Editor

Dec 9, 2019 at 9:34 AM

Shares of TJX Companies Inc (NYSE:TJX) are up 0.4% at $60.07 this morning, buzzing off a fresh price-target hike out of Cowen and Company to $71 from $64. Analyst John Kernan said the TJ Maxx parent's "impressive" new store format shows better enhancements to the consumer experience, including lighting, flooring, and shelving, with 400 stores to debut in the coming years.

TJX has been on a significant climb higher since hitting a bottom of $41.49 last Christmas Eve. The equity has tacked on more than 33% in 2019, with a leg of support stemming from the $50 mark between late-May and mid-August. Furthermore, just last month the shares surged to a fresh record high of $61.69 on Nov. 19.

With TJX's long-term outperformance, its no surprise that options might be a good idea for anyone looking to invest into the security's next move. TJX stock's Schaeffer's Volatility Index (SVI) of 18% sits in the 11th percentile of its annual range, meaning short-term options are pricing in relatively low volatility expectations right now.

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