Ross Stores price target raised to $276 on strong Q2 growth outlook and earnings beat history.

Evercore ISI raised Ross Stores' price target to $276, suggesting a 12.5% upside from its current $245.36 price. The boost reflects strong expectations for Q2, with projected revenues of $6.10 billion (up 10.7%) and earnings per share of $1.92 (up 23.1%). Ross Stores, known for its off-price retail chain Ross Dress for Less, has a consistent record of beating earnings estimates by an average of 10.2% over the past year, driven by store expansion and value-focused customers. The company aims for 6-7% comparable store sales growth and an operating margin near 13%, though inflation risks remain.