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.
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