UPDATE: Baird Starts Ross Stores, Inc. (ROST) at Outperform

(updated to add analyst comment)

Baird analyst Mark Altschwager initiates coverage on Ross Stores, Inc. (NASDAQ: ROST) with a Outperform rating and a price target of $108.00.

The analyst comments "There is a lot to like about this off-price retailer: strong management (experienced, pristine execution), consistent comp growth (+3% comps or better over the past decade), healthy margins (navigating the inflationary cost environment), and a robust earnings growth (+HSD%-LDD%) and FCF outlook. While recent executive turnover adds a risk factor, we see a deep bench and believe shares offer a good "deal" for investors shopping for a high-quality/growth retailer trading at reasonable valuation."

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 $97.49 yesterday.

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