A top Wall Street analyst's stellar endorsement of TJX Companies makes us want to buy more shares of the discount retailer. Matt Boss of JPMorgan — Jim Cramer's favorite retail analyst — said Friday that several off-price retailers, including Ross Stores , Burlington Stores , and Club holding TJX, were buys. Boss cited favorable momentum in the current quarter for those companies as value-focused consumers grow increasingly cautious in their spending habits.
We do not tend to trade TJX shares ahead of earnings since the company typically skews conservative when delivering forward guidance, which could push the stock down. However, TJX is the big winner with a management team that executes well — so we wouldn't be concerned if the stock were to falter following next week's numbers. There's been a growing appeal in off-price retailers and discounters as consumers in higher and higher income brackets seek value.