Market Overview

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

Related ROST
TJX Up on 21% Dividend Hike - Analyst Blog
Elizabeth Arden Brings Rx Skincare Cream - Analyst Blog

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.

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (ROST)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free