Ross Stores price target raised to $170 from $160 at BofA

BofA raised the firm’s price target on Ross Stores to $170 from $160 and keeps a Buy rating on the shares following “a strong beat.” The firm, which thinks Ross’ improved value proposition is resonating well with stretched consumers, raised its FY24 and FY25 EPS estimates by 1% and 2%, respectively, to reflect the beat and its expectation of continued execution on the company’s pricing strategies.