Ross Stores price target raised to $175 from $160 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Ross Stores (ROST) to $175 from $160 and keeps a Market Perform rating on the shares. Ross Stores delivered “nice” Q3 results with sales and gross margin performance driving the earnings upside as expenses were largely in-line, the analyst tells investors in a research note. Ross can benefit from lower-to-middle income consumers seeking value, but the company’s core lower-income customer continues to experience increased pressure from recent policy shifts that have weighed on consumer confidence and spending and an everchanging macro landscape makes visibility to consistent improvement challenging, the firm adds.