We're buying 2 unfairly punished stocks and 1 on an analyst call

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. U.S. stocks were higher Thursday as Wall Street mulled over the Federal Reserve's latest interest rate signals from the session prior. The central bank left rates unchanged Wednesday, and Fed chief Jerome Powell signaled no further hikes and a wait-and-see on possible cuts.

UBS upgraded TJX Companies to a buy from hold rating and raised the retailer's price target to $132 per share from $104. Analysts at the firm, who've historically been bearish on the stock, argued that TJX will record more market share gains from department stores. We think TJX is a great retail name to own if you're worried about the U.S. consumer. Jim said the Club is buying shares of TJX, which houses off-price stores like Marshalls and HomeGoods.

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