Schaeffer's Top Stock Picks for '25

Retail Stock Dips on Disappointing Holiday Forecast

Options traders are blasting the security post-earnings

Deputy Editor
Nov 15, 2023 at 11:21 AM
facebook X logo linkedin


Target's (TGT) post-earnings surge is taking the spotlight in the retail sector today, though not all of its peers are enjoying a lift. The shares of TJ Maxx parent TJX Companies Inc (NYSE:TJX) are falling, despite the company's strong third-quarter results and raised annual forecast. The discount retailer's disappointing holiday-quarter profit forecast is weighing on the stock, which is down 3.7% at $89.09 at last glance. 

TJX stock hit an intraday peak of $93.25 yesterday, just shy of its Sep. 14 record high of $93.78. Though the stock is pulling back today, its ascending 100-day moving average, which captured losses for several days in late October, lingers below as support. Since the start of the year, the equity is up 12.4%. 

Options bulls are targeting TJX after the earnings event. So far, 14,000 calls have been exchanged, which is six times the call volume typically seen at this point, in comparison to 8,112 puts. The November 90 call is the most active contract.

Analysts, meanwhile, have yet to make any adjustments today. Of the 19 brokerages in coverage, 16 carry a "strong buy" rating, with three a tepid "hold," while the 12-month consensus price target of $100.38 is a 12.4% premium to current levels. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?