Wells Fargo raised Ross Stores, Inc. (NASDAQ: ROST) price target from $120 to $135. Wells Fargo analyst Ike Boruchow maintained an Overweight rating on the stock. Ross Stores shares fell 0.9% to close at $114.92 on Friday.
Inflation has weighed on consumer discretionary spending in recent quarters. Rising prices may create an opportunity for discount retailers to gain market share this holiday shopping season, according to Bank of America analyst Robert Ohmes.
Fiscal 2022 Ending January 28, 2023 Outlook
"We are optimistic about the outlook on our business given the sustained strength in our grocery business and our gains in market share," said Laura Felice,
Companies Reporting Before The Bell
• Jumia Technologies (NYSE:JMIA) is expected to report quarterly loss at $0.76 per share on revenue of $57.32 million.