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.
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