UPDATE: Goldman Sachs Raises PT on Ross Stores to $80

Goldman Sachs is out with its report today on Ross Stores ROST, raising its PT to $80 from $78. In its report, Goldman Sachs writes, "We raise our 12-month price target to $80 from $78 as we roll forward to reflect forward 24-month estimates. Our price target remains based on a 12.5X P/E multiple and incorporates a 15% weighted M&A value of $87." Goldman Sachs maintains Neutral on ROST. Shares of ROST closed Thursday at $70.84, down 1.34% from Wednesday's close.