Piper Jaffray Raises PT, Maintains Rating On Ross Stores Inc.

Piper Jaffray maintains its Neutral rating on Ross Stores Inc. (NASDAQ: ROST) and has raised its PT from $66 to $67 based upon revised earnings expectations for the first quarter, released by the stores management Thursday.

Says Piper Jaffray, “The business continues to be driven by strong results in Florida (+ mid single digits) as well as strong results in its home division. While sales and earnings momentum continues, we believe the stock is fairly valued at current levels.”

ROST closed yesterday at $70.90.