- Citigroup reiterated a Buy rating for Ross Stores (NASDAQ: ROST), raising its price target to $290.00, indicating significant upside potential for this retail stock.
- Ross Stores exceeded Q2 revenue and EPS estimates, reporting approximately $6.27 billion in revenue and $2.66 earnings per share, demonstrating robust financial performance.
- The company increased its full-year earnings guidance to between $8.61 and $8.77 per share, reflecting management’s confidence in its market outlook.
On August 21, 2026, Citigroup restates its Buy rating for Ross Stores (NASDAQ: ROST), raising its price target to $290.00. This announcement came when the stock’s price was $228.99. The new target suggests a significant potential upside for this retail stock from its price at the time of the rating.
Ross Stores is an off-price retailer that sells brand-name apparel and home goods at a discount. The company’s business model focuses on offering customers compelling value. This strategy helps it attract a wide range of shoppers looking for bargains, which is a key driver of its customer traffic and overall market share in the discount retail sector.
The positive analyst rating follows strong second-quarter results. Ross Stores reported revenue of approximately $6.27 billion, beating estimates of $6.18 billion. Its earnings per share (EPS), a measure of company profit per share, was $2.66, which was well above the estimated $1.94. This shows strong profitability and robust financial performance.
The company’s total revenue increased by 13% compared to the same period last year. Comparable store sales, which measure performance at existing locations, grew by 10%. CEO Jim Conroy attributes this growth primarily to an increase in customer traffic from both new and existing shoppers, highlighting effective retail strategy.
Due to its strong performance, Ross Stores has increased its financial forecast for the year. The company now expects earnings per share to be between $8.61 and $8.77. This updated guidance was also detailed in a report, as highlighted by Benzinga, reflecting management’s confidence in the company’s market outlook and future growth.
