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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
Jan 2015Piper JaffrayDowngradesOverweightNeutral
Dec 2014Cowen & CompanyDowngradesOutperformMarket Perform
Nov 2014Deutsche BankMaintainsBuy

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Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

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