As previously reported, UBS downgraded Ross Stores to Sell from Neutral with a price target of $77, down from $117. The firm has become "increasingly bearish" on softlines stocks and reduced its calendar 2023 EPS estimates across its coverage by 10%, on average. Its 2023 EPS estimates are now 13% below consensus for the average stock in its coverage in the space, the firm noted.
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Published first on TheFly
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Read More on ROST:
- Ross Stores downgraded to Sell from Neutral at UBS
- Loop upgrades Ross Stores to Buy on steady spending, conservative outlook
- Ross Stores upgraded to Buy from Hold at Loop Capital
- Ross Stores price target lowered to $120 from $121 at Deutsche Bank
- Ross Stores price target raised to $130 from $125 at Baird