"The firm says that after a dismal first half of the year comparable sales of 1%, Ross sharply accelerated to a monster 7% in Q3, thanks to a fresh digital marketing campaign targeting younger consumers who are already out there looking for trade down options. Bernstein stays on the sidelines for now but is more optimistic given the nice uptick in trend and strategy."
"Bernstein analyst Aneesha Sherman raised the firm's price target on Ross Stores () to $159 from $147 and keeps a Market Perform rating on the shares."
Bernstein analyst Aneesha Sherman raised the firm's price target on Ross Stores to $159 from $147 and maintained a Market Perform rating. Comparable sales were only 1% in the first half of the year but accelerated to 7% in Q3. The Q3 improvement is attributed to a fresh digital marketing campaign targeting younger consumers seeking trade down options. The stronger trend and new strategy have increased optimism at Bernstein. Bernstein nonetheless remains on the sidelines for now, keeping a Market Perform stance despite the improved momentum.
Read at TipRanks Financial
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