We’re changing our price target on TJX despite the retailer’s light guidance

North Miami Beach, Florida, T.J. Maxx & HomeGoods discount department store, furniture display and welcome sign.

Jeff Greenberg | Getty Images

TJX Companies delivered strong quarterly results before Wednesday’s opening bell.

While guidance was a bit below expectations, it was not overly concerning given the off-price retailer’s proclivity to under-promise and over-deliver.