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P Pitch Archive Stock pitches across investing competitions
← Fall 2020

The TJX Companies, Inc.

TJX pitch long Cathy Yao, Flora Chai, Joanna Zhou, Wenbo Zhao

Thesis

TJX is well-positioned to capitalize on counter-cyclical opportunities due to its resilient business model and strong market presence. The company is expected to achieve a target price of $93.98 over three years, driven by its efficient supply chain, strong vendor relationships, and expansion opportunities in underpenetrated markets. The investment thesis highlights the potential for significant growth as retail dynamics shift post-COVID-19.

Did it work?

worked confidence: high

The long thesis on TJX called for a 3-year target of $93.98, and with 76 months elapsed the stock has returned +179.8%, far exceeding the implied gain to the target price. The full stated horizon has long passed and the price appreciation decisively confirms the thesis around TJX's resilient off-price model and post-COVID growth. The counter-cyclical and expansion dynamics the pitch relied on clearly played out in the share price.