Market Overview

UPDATE: Goldman Sachs Upgrades Ross Stores on Long-Term Growth, Capital Allocation Optionality

Share:

In a report published Wednesday, Goldman Sachs analyst Stephen Grambling upgraded the rating on Ross Stores (NASDAQ: 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.

Latest Ratings for ROST

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsOverweight
Nov 2020Morgan StanleyMaintainsOverweight
Nov 2020Morgan StanleyMaintainsOverweight

View More Analyst Ratings for ROST
View the Latest Analyst Ratings

 

Related Articles (ROST)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Stephen GramblingAnalyst Color Upgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
EYPTCantor FitzgeraldInitiates Coverage On22.0
TXNDeutsche BankMaintains170.0
BYDDeutsche BankMaintains56.0
MELIDeutsche BankMaintains2,200.0
ALVMizuhoMaintains104.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com