Nomura Securities Maintains a 'Buy' on Ross Stores (ROST); April Comps +10%

Nomura Securities maintains a 'Buy' on Ross Stores, Inc. (NASDAQ: ROST), PT increased from $74 to $84.

Nomura analyst, Paul Lejuez, said, "ROST reported April comps +10%, well above our +4-6%E. The comp increase was driven by a mid single-digit increase in both avg ticket and number of transactions, and avg unit retail price increased mid single digits. Based on the Apr beat, as well as better margins for the qtr overall, we are raising our 1Q11E from $1.35 to $1.48. We are also raising our estimates for the remaining qtrs based on higher sales and margins than previously forecast. Our F11E is now $5.50 vs. $5.13 previously. We are raising our F12E from $5.69 to $6.18."

For more ratings news on Ross Stores, Inc. click here and for the rating history of Ross Stores, Inc. click here.

Shares of Ross Stores, Inc. closed at $78.55 yesterday.

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