Canaccord Genuity Comments on Ross Stores, 'Remains on Sidelines'

Canaccord Genuity provided color on Ross Stores

in a research report published today following the company's June

. In the report, Canaccord Genuity stated, "ROST reported SSS growth of 7% in June on top of +5%, above our +4% estimate, consensus at +5%, and prior guidance of +3% to +4%. The strongest categories were juniors, shoes, and accessories, and Florida was the top-performing region." Later in the report, Canaccord Genuity noted, "We remain on the sidelines and maintain our DCF-generated price target of $67." Shares of Ross Stores were trading at $67.25 at the time of posting, up 7.12% from Tuesday's market close.