Ross Stores price target raised to $135 from $125 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Ross Stores to $135 from $125 and keeps a Buy rating on the shares after its Q2 earnings beat and guidance raise. Inventory ended the quarter down 15% from last year on sales growth of 8%, which was the third consecutive quarter of double-digit inventory declines, following six quarters of double-digit build, the analyst tells investors in a research note. The firm adds that it continues to note the healed supply chain as closeout product is “increasing and improving in quality”.