Jefferies Reiterates Hold Rating On Ross Stores

According to Jefferies, Ross Stores ROST Hold rating is reiterated. Jefferies said that it expects strong 2Q results given the company's outperformance during monthly sales and upward guidance revisions. “Our $74 PT is based on average multiples (15x P/E and ~6x EV/EBITDA), in line with historical, as near-peak fundamentals are likely sustainable. Risk to PT is a deceleration in sales.” Ross Stores closed yesterday at $72.03.