Ross Stores (ROST) Selloff Likely To Be Shortlived - Nomura

Nomura/Instinet analyst, Simeon Siegel, reiterated his Buy rating on shares of Ross Stores, Inc. (NASDAQ: ROST) but raised his price target to $95 from $90 after the company beat then offered guidance that disappointed for the second consecutive quarter.

The analyst stated "Last quarter, ROST guided 2Q below the Street and shares dropped 7%, and then ultimately grew 23% as the “sentiment” miss was forgotten. Based on aftermarket trading, it seems this quarter will show the same initial drop. We expect the recovery to follow as well. Looking further out, it is hard to ignore that ROST has comped positive for 3X consecutive Qs, and we view ROST’s consistency, store oppty and built in AMZN insulation (low avg ticket and minimal credit card transactions) all as attractive".

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 $88.00 yesterday.

You May Also Be Interested In

• Incyte (INCY) PT Raised to $105 at Truist Securities
• Southern Co. (SO) PT Lowered to $99 at Jefferies
• SiteOne Landscape Supply (SITE) PT Lowered to $153 at Stifel