Ross Stores price target raised to $162 from $145 at Baird

Baird raised the firm’s price target on Ross Stores to $162 from $145 and keeps an Outperform rating on the shares. The firm said its earnings beat was fueled by comp upside and healthy flow-through. Initial guidance is not surprisingly a touch below consensus but looks reasonably conservative considering recent comp trends and planned investments in sharper prices to drive share gains.