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BofA Securities Maintains Ross Stores(ROST.US) With Buy Rating, Maintains Target Price $180

Moomoo News ·  Nov 25, 2024 07:31  · Ratings

BofA Securities analyst Lorraine Hutchinson maintains $Ross Stores (ROST.US)$ with a buy rating, and maintains the target price at $180.

According to TipRanks data, the analyst has a success rate of 54.6% and a total average return of 3.7% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Ross Stores (ROST.US)$'s main analysts recently are as follows:

  • Despite a shortfall in top line revenue, Ross Stores managed to post third quarter earnings per share of $1.48, surpassing the expected $1.40. The primary challenge to earnings per share in 2024 has been merchandise margin pressures, anticipated to notably lessen in 2025. This easing of margin pressures could pave the way for another year of margin expansion beyond the long-term forecast the following year. However, it's crucial for Ross to demonstrate that its refocused merchandise strategy can begin to bridge the multi-year gap in same-store sales growth compared to its competitors, which might help narrow the valuation gap with TJX.

  • Ross Stores delivered earnings per share ahead of consensus, despite a slight shortfall in comparable-store sales attributed to weather challenges and some execution setbacks, as observed in softer performance checks throughout the quarter. Trends have shown improvement following the dissipation of weather-related headwinds. Furthermore, the company's guidance for the fourth fiscal quarter suggests an expected acceleration, signaling a positive outlook based on management's proven track record.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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