Why Ross Stores Shares Are Rising
Portfolio Pulse from Henry Khederian
Shares of Ross Stores Inc (NASDAQ:ROST) are trading higher by 1.7% following strong quarterly earnings from Target and TJX. Barclays analyst Adrienne Yih maintained Ross Stores with an Overweight and raised the price target from $122 to $129. Target reported a second-quarter FY23 sales decline of 4.9% year-on-year to $24.77 billion, missing the analyst consensus of $25.18 billion.
August 16, 2023 | 2:47 pm
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Ross Stores shares are trading higher following strong earnings from Target and TJX. Barclays analyst maintains an Overweight rating and raises the price target to $129.
The rise in Ross Stores' shares is likely due to strong earnings from Target and TJX, which suggests a positive retail environment. Additionally, the raised price target by Barclays analyst Adrienne Yih further boosts investor confidence in the stock.
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