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.
Latest Ratings for ROST
|Apr 2015||Cantor Fitzgerald||Initiates Coverage on||Hold|
|Apr 2015||JP Morgan||Maintains||Neutral|
|Feb 2015||Deutsche Bank||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.