Ross Stores Drops in Today’s Trading

Shares of Ross Stores (ROST) got clocked hard this morning. At its low, Ross was down by 6%. It’s made back some lost ground and at the time I write this, Ross is down 2.6%.

Wells Fargo apparently agrees with me that Ross is being too conservative with its guidance:

Wells Fargo says the outlook doesn’t match the better-than-expected results the company announced late Thursday. “We get it, 2H has headwinds-but we view this 2H outlook as a tad overly conservative following such a strong 2Q-not an atypical approach for this management team,” wrote analysts led by Ike Boruchow. Wells Fargo rates Ross Stores stock overweight with a $135 price target.

(…)

Credit Suisse says the company has an “unwavering dedication to its conservative/value-leader narrative” and “struck a conservative tone” during its earnings report.

Posted by on August 20th, 2021 at 1:31 pm


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