Ross Stores To $123? These Analysts Boost Price Targets On The Discount Retailer Following Q3 Results

Ross Stores, Inc. ROST posted better-than-expected Q3 results and issued strong earnings guidance.

Ross Stores posted Q3 EPS of $1.00, beating market estimates of $0.81. The company’s quarterly sales came in at $4.57 billion, versus expectations of $4.37 billion.

Ross Stores shares gained 16.7% to $113.84 in pre-market trading.

These analysts made changes to their price targets on Ross Stores after the company released quarterly results.

• Telsey Advisory Group raised price target on Ross Stores from $80 to $120. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating on the stock.
• Wells Fargo raised Ross Stores price target from $110 to $120. Wells Fargo analyst Ike Boruchow maintained an Overweight rating on the stock.
• Credit Suisse boosted the price target on the stock from $99 to $123. Credit Suisse analyst Michael Binetti maintained the stock with an Outperform.
• Citigroup raised Ross Stores price target from $100 to $116. Citigroup analyst Paul Lejuez maintained the stock with a Buy.
• JP Morgan raised Ross Stores price target from $112 to $121. JP Morgan analyst Matthew Boss maintained an Overweight rating on the stock.
• UBS boosted price target on Ross Stores from $92 to $108. UBS analyst Jay Sole maintained the stock with a Neutral.