UPDATE: Sterne Agee Downgrades Ross Stores
In a report released Wednesday, analysts at Sterne Agee downgraded Ross Stores (NASDAQ: ROST) from Buy to Neutral and decreased the price target from $81 to $68.
Analysts at Sterne Agee downgraded Ross Stores based on a change in traffic for the worse and forecast of EBIT margins reaching its peak. Sterne Agee noted the retailers recent performance suggests a decrease in its competitive advantage.
The price target decrease of 19 percent is based on Sterne Agee 15x EPS estimate for 2015.
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