Deutsche Bank Upgrades Ross (ROST)
Deutsche Bank reported that they have increased their rating for discount retailer, Ross Stores, Inc.(ROST) on Wednesday.
The firm has upgraded ROST from a “Hold” to a “Buy,” and has given the company a $66 price target. This price target suggests a 14% increase from the stock’s current price of $56.82.
Analysts see growth in ROST due to a flexible business model which is expected to produce higher than expected EPS.
They also see a growth in the company’s market share gain potential as well as increased same store sales.
Ross shares were up 63 cents, or 1.11% during premarket trading Wednesday. The stock has increased 12% in the past year.
The Bottom Line
Shares of Ross Stores (ROST) have a .99% dividend yield, based on last night’s closing stock price of $56.82. The stock has technical support in the $52 price area. If the shares can firm up, we see overhead resistance around the $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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