Benzinga | Aug 17, 2020 03:14PM EDT

Why Ross Stores Is Trading Higher Today

Ross Stores (NASDAQ:ROST) shares are trading higher on Monday after Telsey Advisory Group upgraded the stock from Market Perform to Outperform and announced a $112 price target.

Ross Stores is an American off-price apparel and home fashion retailer, operating over 1,800 stores (at the end of fiscal 2019) across the Ross Dress for Less and dd's Discounts banners. Ross offers a variety of name-brand products and targets undercutting conventional retailers' regular prices by 20%-70%.

Ross Stores shares were trading up 2.70% at $96.60 at the time of publication on Monday. The stock has a 52-week high of $124.16 and a 52-week low of $56.30.