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Citigroup Downgrades Ross Stores (ROST)
Analysts at Citigroup downgraded Ross Stores, Inc. (ROST
) on Wednesday as the firm sees shares of the discount retail operator fairly valued.
Citigroup downgraded ROST from “Buy” to “Neutral.” The analysts see shares reaching $60, which is a +10% upside to Monday’s closing price of $54.48.
Ross shares were flat in premarket trading on Wednesday. The stock was up +13.8% in 2012.
The Bottom Line
Shares of Ross Stores (ROST) have a 1.04% dividend yield, based on Monday’s closing stock price of $54.09. The stock has technical support in the $50-$52 price area. If the shares can firm up, we see overhead resistance around the $57-$60 price levels.
Ross Stores, Inc. (ROST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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