JPMorgan raised the firm’s price target on Ross Stores to $124 from $123 and keeps an Overweight rating on the shares. Managements of department stories and specialty softlines are seeing increased earnings visibility into fiscal 2023 given better inventory positions, reduced supply chain lead times and moderating freight/raw material costs, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on ROST:
- Ross Stores downgraded to Sell at UBS on softlines bearishness
- Ross Stores downgraded to Sell from Neutral at UBS
- Loop upgrades Ross Stores to Buy on steady spending, conservative outlook
- Ross Stores upgraded to Buy from Hold at Loop Capital
- Ross Stores price target lowered to $120 from $121 at Deutsche Bank