Analyst Peeks Into Ross Stores' Proven Theory To Brave Amazon's Threat To Retail Sector: Here's How
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Simeon Siegel reiterated an Outperform rating on Ross Stores, Inc. (ROST), raising the price target to $127 from $113. Siegel notes that ROST has been a prime beneficiary of the shift from department stores to off-price, and has proven insulated from Amazon's threat to retail. ROST recently reported Q2 sales up 5% YoY. The analyst raised FY23 and FY24 adjusted EPS and revenue estimates for ROST.
August 18, 2023 | 7:05 pm
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NEUTRAL IMPACT
Amazon's threat to the retail sector is noted, but Ross Stores is seen as insulated from this threat.
While Amazon's threat to the retail sector is mentioned, the analyst notes that Ross Stores has proven insulated from this threat. This does not directly impact Amazon's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
TJX Companies is mentioned in comparison to Ross Stores, with TJX besting ROST on gross margins and EBIT.
TJX Companies is mentioned in comparison to Ross Stores, with TJX besting ROST on gross margins and EBIT. However, this comparison does not directly impact TJX's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ross Stores' stock price may rise in the short term due to the raised price target and positive analyst rating.
The analyst from BMO Capital Markets has reiterated an Outperform rating on Ross Stores and raised the price target. This positive outlook could lead to an increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100