Ross Stores, Inc. (ROST) PT Raised to $190 at Loop Capital
Loop Capital analyst Laura Champine raised the price target on Ross Stores, Inc. (NASDAQ: ROST) to $190.00 (from $170.00) while maintaining a Buy rating.
The analyst comments "We are maintaining our Buy rating and raising our price target for Ross from $170 to $190 following its F2Q earnings report. The company beat our comp estimate by 100 bps with 4% growth. F3Q outlook is set in line with consensus. This is notable given how conservative ROST management is typically. The company raised its full year EPS outlook by about 19 cents. We and consensus are already at the high end of the company's 2-3% comp growth outlook for F3Q and F4Q. Consensus for EPS is at the mid-point of ROST's F3Q outlook and nearer the low end for F24. Our overall positive thesis on Ross is in part based on the likelihood that off-price's market share gains will accelerate this year on department store closures and decreasing relevancy."