Ross (ROST) & TJX (TJX) Benefiting from Secular Trends
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Price: $240.13 +0.43%
Rating Summary:
29 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
29 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Deutsche Bank today maintained a Buy rating on Ross Stores, Inc. (NASDAQ: ROST) and raised its price target to $77.00 (from $70.00). Analyst Mike Baker noted improved comps at Ross Stores and The TJX Companies (NYSE: TJX) despite weakness at other retailers. In his view, this is a result of secular trends.
"ROST and well as TJX are putting up better than consensus comps, although in line with our model, even as other retailers are struggling. We think there are several secular trends leading to this, giving us confidence that they'll continue to beat," said Baker.
"First, we think younger customers are discovering the off price sector, opening up a whole new customer demographic. Secondly, we think consumers are more focused on margins than in the past. Third, we believe there is a momentum factor at work. That is that as ROST and TJX get better, they see better product, helping them to get better next year, and so on," he added.
For an analyst ratings summary and ratings history on Ross Stores, Inc. (NASDAQ: ROST) click here. For more ratings news on Ross Stores, Inc. click here.
Shares of Ross Stores, Inc. closed at $68.52 yesterday.
"ROST and well as TJX are putting up better than consensus comps, although in line with our model, even as other retailers are struggling. We think there are several secular trends leading to this, giving us confidence that they'll continue to beat," said Baker.
"First, we think younger customers are discovering the off price sector, opening up a whole new customer demographic. Secondly, we think consumers are more focused on margins than in the past. Third, we believe there is a momentum factor at work. That is that as ROST and TJX get better, they see better product, helping them to get better next year, and so on," he added.
For an analyst ratings summary and ratings history on Ross Stores, Inc. (NASDAQ: ROST) click here. For more ratings news on Ross Stores, Inc. click here.
Shares of Ross Stores, Inc. closed at $68.52 yesterday.
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