Ross Stores price target raised to $130 from $125 at Baird

Baird analyst Mark Altschwager raised the firm’s price target on Ross Stores to $130 from $125 and keeps an Outperform rating on the shares. The analyst said Q4 EPS beat, driven by better top-line performance and interest income. Management’s strategy to reposition the assortment and provide value has resonated with consumers, leading to improved momentum heading into 2023.