Ross Stores (ROST) PT Raised to $112 at Nomura Securities

Nomura Securities analyst Robert Drbul reiterated a Buy rating and boosted his price target on Ross Stores, Inc. (NASDAQ: ROST) to $112.00 (from $100.00) after the company reported 4Q and FY14 EPS of $1.20 and $4.42, well ahead of our estimates and consensus.

Drbul commented, "Ross Stores reported 4Q and FY14 EPS of $1.20 and $4.42, well ahead of our estimates and consensus. Sales rose 10.6% to $3.03bn in 4Q, driven by an impressive 6% comp sales increase, which is the highest reported 4Q comp in our group so far. This reinforces our belief that the off-price channel remains on track. dd’s DISCOUNTS also posted solid gains in 4Q. Geographically, the Midwest continued to outperform the chain followed closely by Texas, which has not yet shown signs of pressure from job destruction in the oil and gas industry. Though category strength was broad-based, Juniors continued to be the best performer in both the quarter and the year."

For an analyst ratings summary and ratings history on Ross Stores, Inc. click here. For more ratings news on Ross Stores, Inc. click here.

Shares of Ross Stores, Inc. closed at $99.05 yesterday.

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