Analyst Lorraine Hutchinson of Bank of America Securities reiterated a Buy rating on Ross Stores (ROST – Research Report), reducing the price target to $175.00.
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Lorraine Hutchinson’s rating is based on Ross Stores’ ability to effectively manage challenges such as tariffs and macroeconomic uncertainties. Despite pulling its fiscal year guidance due to these pressures, the company reported a first-quarter earnings per share that exceeded expectations, driven by strong sales and merchandise availability. Hutchinson remains confident in Ross Stores’ nimble business model, which is well-positioned to navigate tariff impacts.
Furthermore, Ross Stores is implementing several strategies to mitigate the effects of tariffs, including vendor negotiations, sourcing shifts, and leveraging closeout buying opportunities. The company has also shown sequential sales improvement throughout the quarter, with broad-based strength across different income demographics. These factors contribute to Hutchinson’s confidence in the company’s ability to sustain growth, justifying the Buy rating with a price objective of $175.
According to TipRanks, Hutchinson is a 5-star analyst with an average return of 8.4% and a 56.84% success rate. Hutchinson covers the Consumer Cyclical sector, focusing on stocks such as TJX Companies, Bath & Body Works, and Nike.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $150.00 price target.
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