Bank of America Securities analyst Lorraine Hutchinson maintained a Buy rating on Ross Stores (ROST – Research Report) yesterday and set a price target of $180.00.
Lorraine Hutchinson’s rating is based on several strategic initiatives outlined by Ross Stores’ management team to drive sales and improve the customer experience. The company plans to enhance store environments with minor adjustments such as improved signage, new flooring, and self-checkout options, which are expected to create a more inviting shopping atmosphere without significant additional investment. Furthermore, Ross Stores aims to refine its marketing strategy to strengthen the emotional connection with customers, leveraging social media and optimizing traditional media spending to attract both new and returning customers.
Additionally, Ross Stores is focusing on operational efficiencies to fund these initiatives. By collaborating with vendors for more floor-ready goods and investing in technology to streamline processes, the company anticipates offsetting costs associated with its new strategies. These efforts, coupled with a lean cost structure, position Ross Stores to benefit from trade-down trends and strong merchandise availability, supporting the Buy rating with a price objective of $180.00 USD.
In another report released on March 5, Evercore ISI also maintained a Buy rating on the stock with a $170.00 price target.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ROST in relation to earlier this year.
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