In a report published Wednesday, Goldman Sachs analyst Stephen Grambling upgraded the rating on Ross Stores ROST from Buy to Conviction List-Buy, and reiterated the $83.00 price target.
In the report, Goldman Sachs noted, “We add ROST to our Conviction List with 16% upside to our $83, 12-month price target. We continue to view ROST as a long-term disruptor and compounder with an EPS growth algorithm of 15%+ consisting of LSD-MSD comp growth, MSD square footage growth, operating margin expansion, and share buyback. Additionally, ROST has a strong sustainable free cash flow yield at 7.4%, which can be re-deployed into high-returning store openings for the next decade as the company grows from 1,253 stores to over 2,200 stores nationwide based on our proprietary saturation analysis.”
Ross Stores closed on Tuesday at $71.61.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in