Ross Stores price target raised to $165 from $138 at BMO Capital

BMO Capital analyst Simeon Siegel raised the firm’s price target on Ross Stores to $165 from $138 and keeps an Outperform rating on the shares. The company saw a traffic-driven strong top-line beat, coupled with stronger-than-expected gross margins, the analyst tells investors in a research note. BMO believes that Ross Stores should take market share in the longer-term and expects shares to continue compounding.