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Ross Stores Downgraded to “Hold” at Canaccord Genuity (ROST)

By Dividend.com,  May 21, 2012, 09:35:42 AM EDT

Discount apparel retailer Ross Stores, Inc. ( ROST ) on Monday caught some cautious commentary from analysts at Canaccord Genuity.

The firm said it downgraded ROST from "Buy" to "Hold" with a $67 price target, suggesting a 10% upside to the stock's Friday closing price of $60.66. Canaccord Genuity noted it made the move due to slowing industry growth.

Ross Stores shares fell $1.06, or -1.8%, in morning trading Monday.

The Bottom Line
Shares of Ross Stores ( ROST ) have a .92% dividend yield, based on Friday's closing stock price of $60.66. The stock has technical support in the $55-$56 price area. The stock is trading near the all-time high range of $63-$64 a share.

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 .




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


This article appears in: Investing, Stocks

Referenced Stocks: ROST



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