Nomura Maintains “Buy” on Ross Stores; March Results Encouraging (ROST)


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Discount apparel retailer Ross Stores, Inc. ( ROST ) on Monday caught some further positive commentary from analysts at Nomura Securities.

The firm maintained its "Buy" rating on ROST and lifted its price target from $58 to $65, suggesting a nearly 9% upside to the stock's Friday closing price of $59.81.

A Nomura analyst commented, "For ROST, much of their store base (~30%) is in the West, which was not helped by weather…based on strong Mar results and an increase to our comp forecasts for the remainder of the year, we are raising our 1Q12E from $0.92 to $0.96 and our F12E from $3.41 to $3.51."

Ross Stores shares fell $1.11, or -1.9%, in premarket trading Monday.

The Bottom Line
Shares of Ross Stores ( ROST ) have a .94% dividend yield, based on Friday's closing stock price of $59.81. The stock has technical support in the $55-$56 price area. The shares are trading at all-time highs.

Ross Stores, Inc. ( ROST ) is not recommended at this time, holding a 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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