Telsey Advisory raised the firm’s price target on Ross Stores (ROST) to $160 from $150 and keeps a Market Perform rating on the shares. The company delivered “solid” Q2 results, the analyst tells investors. While the impact of tariffs on merchandise margin and earnings will likely continue, the impact will be at a lesser rate in Q3 with even further abatement in Q4 due to the work done to mitigate the pressure, the firm adds. Overall, Telsey anticipates the company will continue to benefit from lower-to-middle income consumers.
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