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UPDATE: Citigroup Reiterates Buy Rating, Lowers PT on Ross Stores

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In a report published Friday, Citigroup reiterated its Buy rating on Ross Stores (NASDAQ: ROST), but lowered its price target from $85.00 to $70.00.

Citigroup noted, “We have a Buy on these shares as we believe customers continue to desire value focused shopping that ROST delivers while it benefits from new traffic that sticks at its two concepts, Ross Dress for Less & dd's. Growth drivers include ROST's ability to double its store base, a special ability to sell inventory packed away, store level planning/allocation/inventory management, and US pure play exposure. Competitive moats include a 450-person buying organization, and #2 off-price share after TJX.”

Ross Stores closed on Thursday at $54.21.

Latest Ratings for ROST

DateFirmActionFromTo
Feb 2016Wolfe ResearchInitiates Coverage onOutperform
Dec 2015Cowen & CompanyUpgradesMarket PerformOutperform
Nov 2015WedbushMaintainsOutperform

View More Analyst Ratings for ROST
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Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

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