Goldman Sachs Removes Ross Stores (ROST) from CL-Buy List

Goldman Sachs downgraded Ross Stores, Inc. (NASDAQ: ROST) from Conviction Buy to Buy with a price target of $99.00 (from $96.00).

Analyst Stephen Grambling said, "We continue to view ROST as a long-term secular winner, with opportunity to grow its store base, expand margins, and improve ROIC. Near-term, fundamentals are inflecting with easier comparisons over the next several quarters and we continue to see balance sheet optionality as capex investments subside. However, we believe removal from the Conviction List is warranted, as shares have re-rated, as we forecast less upside vs. consensus estimates, and as we see only 10% upside to our upwardly revised price target."

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 $90.28 yesterday.

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