Nomura Securities Maintains a 'Buy' on Ross Stores (ROST); Raising Estimates & PT
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Price: $235.28 --0%
Rating Summary:
28 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
Rating Summary:
28 Buy, 13 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
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Nomura Securities maintains a 'Buy' on Ross Stores, Inc. (NASDAQ: ROST), raises price target to $87.00.
Nomura analyst, Paul Lejuez, said, "ROST continues to post strong comp results helped by great inventory availability and strong traffic trends. The significant guidance revision this month reflects these strong trends, as well as a benefit from lower-than-expected shrink. We increased our F11E EPS from $5.50 to $5.58 and F12E from $6.18 to $6.30. Our PT goes from $84 to $87. We continue to believe both off-pricers are well positioned in the current macro and inflationary cost environment; however, we have a preference for ROST over TJX as it is a cleaner off-price story, without exposure to Canada or Europe."
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 $80.76 yesterday.
Nomura analyst, Paul Lejuez, said, "ROST continues to post strong comp results helped by great inventory availability and strong traffic trends. The significant guidance revision this month reflects these strong trends, as well as a benefit from lower-than-expected shrink. We increased our F11E EPS from $5.50 to $5.58 and F12E from $6.18 to $6.30. Our PT goes from $84 to $87. We continue to believe both off-pricers are well positioned in the current macro and inflationary cost environment; however, we have a preference for ROST over TJX as it is a cleaner off-price story, without exposure to Canada or Europe."
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 $80.76 yesterday.
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