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Investing.com - TD Cowen raised its price target on Ross Stores, Inc. (NASDAQ:ROST) to $174.00 from $170.00 on Monday, while maintaining a Buy rating on the off-price retailer’s stock. The new target represents potential upside from the current price of $161.08, with the stock trading just 2.4% below its 52-week high of $165.07.
The research firm indicated it expects Ross Stores to exceed consensus estimates for third-quarter same-store sales and earnings per share, with positive trends extending into fiscal year 2026 earnings. This aligns with InvestingPro data showing 4 analysts have revised their earnings upwards for the upcoming period, with the company set to report results in just 3 days on November 13.
TD Cowen noted that customer traffic is trending positively for the retailer, suggesting potential for continued strength through the holiday shopping season.
The firm believes Ross management will likely maintain a conservative approach in its fourth-quarter guidance, but could raise both the low and high ends of its full-year earnings per share forecast.
TD Cowen also highlighted that Ross Stores’ price-to-earnings ratio currently trades at an 18% discount to competitor TJX Companies, a gap the firm suggests could narrow further. According to InvestingPro data, Ross currently has a P/E ratio of 25.42 and boasts an overall financial health score rated as "GREAT." Investors seeking deeper valuation insights and 13 additional ProTips on Ross Stores can access the comprehensive Pro Research Report available for this prominent specialty retail player.
In other recent news, Ross Stores, Inc. has completed its fiscal 2025 expansion with the opening of 40 new locations across 17 states, bringing its total new store count to 90 for the year. The retailer now operates 2,273 stores across 44 states, the District of Columbia, Guam, and Puerto Rico. On the financial front, Erste Group has initiated coverage on Ross Stores with a Buy rating, citing the company’s favorable position to increase sales more strongly than its competitors. Conversely, BTIG has initiated coverage with a Neutral rating due to valuation concerns, estimating earnings per share of $6.21 for fiscal year 2025 and $6.85 for 2026.
Additionally, TD Cowen has raised its price target for Ross Stores to $162, maintaining a Buy rating. This adjustment follows the company’s reinstated fiscal year 2025 guidance, which is slightly below initial projections after accounting for tariffs. In leadership developments, Ross Stores announced the appointment of William Sheehan as Executive Vice President and Chief Financial Officer, effective October 1, 2025. Sheehan will succeed Adam Orvos, who is set to retire at the end of September 2025. These developments reflect Ross Stores’ strategic moves in expansion and leadership, coupled with mixed analyst ratings.
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