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• ROST 67% Rate It

Discount apparel retailer Ross Stores, Inc. ( ROST ) on Monday caught a big upgrade from analysts at Piper Jaffray.

The firm boosted its rating on ROST from "Neutral" to "Overweight" while lifting its price target from $69 to $85. That new target suggests a nearly 27% upside to the stock's Friday closing price of $67.16.

A Piper Jaffray analyst commented, "We are upgrading ROST from Neutral to Overweight and raising our price target from $69 to $85 given our belief that secular trends in product distribution will continue to enable Ross Stores to improve the quality of its merchandise, as well as our increasing level of conviction that evolving traffic patterns will support profitable expansion of the Ross Dress For Less concept from under 1,100 doors to management's goal of 2,000."

Ross Stores shares posted modest gains in premarket trading Monday.

The Bottom Line
Shares of Ross Stores ( ROST ) have a .83% dividend yield, based on Friday's closing stock price of $67.16. The stock has technical support in the $61-$65 price area. The shares are trading near all-time highs.

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

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