Ross Stores price target raised to $131 from $130 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Ross Stores to $131 from $130 and keeps an Overweight rating on the shares. Ross Stores reported an unexpected beat and raise alongside likely positive EPS revisions, but the stock likely proves range-bound until sales inflect and the margin recovery is clearer, which may take time, the analyst tells investors in a research note.