Citi downgraded TJX Companies from Buy to Neutral on August 20, 2026. The firm reduced its price target for the stock to $154 from $182. Analysts cited concerns regarding sluggish comparable sales at the core Marmaxx division.
The Marmaxx segment, which includes T.J. Maxx and Marshalls, reported a 1% comparable sales increase. CEO Ernie Herrman characterized the division's performance as entirely self-inflicted. This slowdown overshadowed strong performance in the HomeGoods and international segments.
TJX reported adjusted second-quarter earnings of $1.22 per share, exceeding analyst estimates. The company raised its full-year guidance despite the core business concerns. Gordon Haskett reiterated its Accumulate rating as investors focus on the flagship segment's trajectory.