UPDATE: MKM Partners Upgrades Ross Stores, Inc. (ROST) to Buy

(Updated - March 2, 2016 1:03 PM EST)

MKM Partners upgraded Ross Stores, Inc. (NASDAQ: ROST) from Neutral to Buy with a price target of $65.00 (from $52.00) after it released Q4 results and guidance. Analyst Roxanne Meyer pointed out comp strength and improved earnings visibility.

"ROST has now delivered on two quarters of strong comps, with industry tailwinds supporting continued upside potential vs. conservative guidance," said Meyer. "We see improved visibility into margin upside potential in 2016 given a hurdle that is based on a more modest comp coupled with discrete 2H tailwinds. Management's reiteration of its lowdouble digit earnings growth algorithm longer-term reminds us not only of its ability to continually manage costs, but also of its key competitive advantages that should drive market share: its scale, store growth, and the strength of the buying organization and management team. Additionally, we look for stock repurchase activity to continue to support EPS growth by over 3% annually."

For an analyst ratings summary and ratings history on Ross Stores, Inc. click here. For more ratings news on Ross Stores, Inc. click here.

Shares of Ross Stores, Inc. closed at $56.23 yesterday.

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