Ross Stores price target raised to $169 from $144 at TD Cowen

TD Cowen analyst John Kernan raised the firm’s price target on Ross Stores to $169 from $144 and keeps an Outperform rating on the shares. The analyst says traffic growth and better execution drove Ross’ comp upside to 7% in Q4. The company’s guidance is conservative, leaving room for future beat and raises while its “longer tailed “efficiency projects support $8.00-plus in earnings per share potential, underpinning valuation expansion above historical levels, the analyst tells investors in a research note.