UPDATE: Goldman Sachs Starts Ross Stores, Inc. (ROST) at Buy

Goldman Sachs analyst Brooke Roach initiates coverage on Ross Stores, Inc. (NASDAQ: ROST) with a Buy rating and a price target of $102.00.

The analyst comments "We see opportunities for ROST to gain market share as it increasingly benefits from trade-down among its core lower-income consumer following initial demand shocks. Further, the company has meaningful share opportunity through store fleet expansion as it extends its geographic footprint across the US. While its exposure to the low-income consumer will likely weigh on near-term results, we believe Y/Y comp gaps will narrow going forward on the back of stronger inventory availability and execution."

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 $82.30 yesterday.

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