Ross Stores price target raised to $132 from $128 at TD Cowen

TD Cowen analyst John Kernan raised the firm’s price target on Ross Stores to $132 from $128 and keeps an Outperform rating on the shares. The firm said results showed the company’s initiatives on sharpening its value proposition and there is clearly a favorable environment for Off-Price as supply chain costs deflate. These tailwinds are set to continue into at least 2H 2023.