Nomura Securities Reiterates a 'Buy' on Ross Stores (ROST); Continues Posting Strong Comps
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Price: $245.36 +0.16%
Rating Summary:
28 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Buy' on Ross Stores, Inc. (NASDAQ: ROST) price target of $84.
Nomura analyst, Paul Lejuez, says, "ROST continues to post strong comp results helped by great inventory availability and strong traffic trends. As we enter 2H11, with cost pressures hitting retailers at the same time that economic worries hit the consumer, we believe off-pricers will continue to outperform. Although July sales results were slightly above our expectations, we expect costs (primarily dist costs for packaway product) to be higher than initially anticipated. We are lowering our 2Q11E EPS to $1.28 from $1.34. Our F11E EPS remains $5.50."
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 $74.47 yesterday.
Nomura analyst, Paul Lejuez, says, "ROST continues to post strong comp results helped by great inventory availability and strong traffic trends. As we enter 2H11, with cost pressures hitting retailers at the same time that economic worries hit the consumer, we believe off-pricers will continue to outperform. Although July sales results were slightly above our expectations, we expect costs (primarily dist costs for packaway product) to be higher than initially anticipated. We are lowering our 2Q11E EPS to $1.28 from $1.34. Our F11E EPS remains $5.50."
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 $74.47 yesterday.
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