Ross Stores price target raised to $163 from $160 at Barclays

Barclays raised the firm’s price target on Ross Stores to $163 from $160 and keeps an Overweight rating on the shares. The company’s Q4 sales, gross margin, and earnings cleanly beat expectations as strong transactions on flat average basket drove comp sales of up 7%, the analyst tells investors in a research note. The firm says Ross’ strong value offerings continue to drive sales and growth within the entire channel.