TD Cowen analyst John Kernan has maintained their bullish stance on ROST stock, giving a Buy rating on November 18.
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John Kernan has given his Buy rating due to a combination of factors that highlight Ross Stores’ strong performance and potential for future growth. The company has exceeded expectations with a 7% comparable sales increase, which is a significant achievement not seen since the fourth quarter of 2023. This performance was driven by a successful branded merchandise strategy and a new marketing campaign that resonated well across various income demographics and product categories.
Furthermore, Ross Stores has shown resilience in overcoming margin headwinds and is expected to benefit from higher consumer engagement, particularly among value-seeking customers. The company’s expansion into new regions, such as the Northeast and New York metro area, has also been met with success. Kernan believes that the company’s merchandising, store, and supply chain strategies will continue to drive traffic and sales, even in a challenging tariff environment. As a result, Kernan has raised the target price for Ross Stores to $192, reflecting confidence in the company’s ability to maintain its growth trajectory.
In another report released on November 18, Jefferies also maintained a Buy rating on the stock with a $190.00 price target.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ROST in relation to earlier this year.