Ross Stores price target raised to $124 from $123 at JPMorgan

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.