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- Analysts at UBS upgraded Ross Stores (NASDAQ:ROST) on Friday ahead of its fourth quarter results, citing that macro headwinds for the company have faded along with better-than-expected margin expansion potential and bullish sentiment, among other things.
- UBS expects ROST to post “solid Q4 results,” beat EPS estimates by at least 5 cents, and provide strong guidance for 2024.
- ROST was upgraded to Neutral from Sell, along with a price target hike to $142 from $85. UBS said its new PT is based on 22x its FY25 EPS estimate and is 67% higher than its previous view.
- ROST +7.2% YTD.
