January 24, 2013 at 09:47 AM EST
Ross Stores Upgraded to “Outperform” at Credit Suisse (ROST)

Discount apparel retailer Ross Stores, Inc. (ROST) on Thursday received a big upgrade from analysts at Credit Suisse.

The firm boosted its rating on ROST from “Neutral” to “Outperform” and lifted its price target from $60 to $68. That new target suggests a 15% upside to the stock’s Wednesday closing price of $59.09.

Ross Stores shares rose $1.42, or +2.4%, in Thursday morning trading. The stock has risen about 16% in the past year.

The Bottom Line
Shares of Ross Stores (ROST) have a .95% dividend yield, based on last night’s closing stock price of $59.09. The stock has technical support in the $53-$55 price area. If the shares can firm up, we see overhead resistance around the $63-$65 price levels.

Ross Stores, Inc. (ROST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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