Ross Stores price target raised to $190 from $170 at Loop Capital

Loop Capital raised the firm’s price target on Ross Stores to $190 from $170 and keeps a Buy rating on the shares following the Q2 earnings report. The company beat Loop’s comp estimate by 100 basis points with 4% growth, and the Q3 outlook is set in line with consensus, which is notable given how conservative Ross management is typically, the analyst says. The firm’s positive thesis on Ross is based in part on the likelihood that off-price’s market share gains will accelerate this year on department store closures and decreasing relevancy.