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These Analysts Boost Their Forecasts On Ross Stores Following Upbeat Results

Published 17/11/2023, 17:25
© Reuters.  These Analysts Boost Their Forecasts On Ross Stores Following Upbeat Results
ROST
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Benzinga - by Lisa Levin, Benzinga Editor.

Ross Stores, Inc. (NASDAQ: ROST) reported upbeat results for its third quarter and raised FY23 earnings guidance on Thursday.

Ross Stores reported quarterly earnings of $1.33 per share, surpassing estimates of $1.21, representing a 33% increase over earnings of $1.00 per share from the same period last year. Revenue clocked in at $4.92 billion, above the analyst consensus estimate of $4.82 billion, a 7.87% increase over sales of $4.57 billion the same period last year, according to Benzinga Pro.

The company raised its full-year 2023 earnings per share outlook from between $5.15 and $5.26 to between $5.30 and $5.36.

Ross Stores shares jumped 7.9% to trade at $129.58 on Friday.

These analysts made changes to their price targets on Ross Stores following earnings announcement.

  • Telsey Advisory Group increased the price target on Ross Stores from $130 to $135. Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating.
  • Morgan Stanley raised the price target on Ross Stores from $131 to $137. Morgan Stanley analyst Kimberly Greenberger maintained an Overweight rating.
  • Wells Fargo boosted the price target on Ross Stores from $135 to $140. Wells Fargo analyst Ike Boruchow maintained an Overweight rating.
  • BMO Capital increased the price target on Ross Stores from $127 to $138. BMO Capital analyst Simeon Siegel maintained an Outperform rating.

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Latest Ratings for ROST

DateFirmActionFromTo
Mar 2022BarclaysMaintainsOverweight
Mar 2022Morgan StanleyMaintainsOverweight
Mar 2022Deutsche BankMaintainsBuy
View More Analyst Ratings for ROST

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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