MKM Partners Maintains a 'Buy' on Ross Stores (ROST); Raising Numbers on Solid Q2
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Price: $65.59 +1.09%
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
12 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ROST Now!
MKM Partners maintains a 'Buy' on Ross Stores, Inc. (NASDAQ: ROST) price target of $75.00 (from $71.00).
Analyst, Patrick Keever, said, "Ross delivered another very good quarter, with comps increasing 7% on top of a 5% gain last year, and EPS rising 27%, to $0.81, and meeting raised expectations...We are raising our 3Q12 same-store sales assumption from 2.0% to 3.5% vs. new guidance of 3%-4%, but we are maintaining our $0.66 EPS estimate vs. guidance of $0.63-$0.66 to reflect some conservatism around the cycling of 3Q11’s $0.06 lift from lower-than-expected inventory shrink and favorable tax audit settlements. We are raising our FY12 EPS estimate from $3.39 to $3.44 to reflect a higher 4Q12 outlook and raising our FY13 EPS estimate by $0.10."
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 $68.46 yesterday, with a 52 week range of $46.13-$95.24.
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Analyst, Patrick Keever, said, "Ross delivered another very good quarter, with comps increasing 7% on top of a 5% gain last year, and EPS rising 27%, to $0.81, and meeting raised expectations...We are raising our 3Q12 same-store sales assumption from 2.0% to 3.5% vs. new guidance of 3%-4%, but we are maintaining our $0.66 EPS estimate vs. guidance of $0.63-$0.66 to reflect some conservatism around the cycling of 3Q11’s $0.06 lift from lower-than-expected inventory shrink and favorable tax audit settlements. We are raising our FY12 EPS estimate from $3.39 to $3.44 to reflect a higher 4Q12 outlook and raising our FY13 EPS estimate by $0.10."
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 $68.46 yesterday, with a 52 week range of $46.13-$95.24.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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