Rose's (ROSTscratch0.2.US) gaped higher, rising more than 9% during the session to US$144.37, and its stock price hit a new high since April 2.
Ross's released results showing that sales in the first quarter of 2024 were US$4.86 billion, a year-on-year increase of 8.1%, slightly higher than analysts 'expectations.scratch0.2Earnings per share were $1.46, up from $1.09 in the same period last year and higher than analysts 'expectations of $1.36.
After the announcement of exceeded expectations, several investment banks raised their target prices, including:
TD Cowan: Maintain its buy rating and raise its target price from $173 to $176;
Citigroup: Maintain its buy rating and maintain its target price of $172;
Bank of America Securities: Maintain buy rating and maintain target price of US$170;
Barclays Bank: Maintain its buy rating and raise its target price from $163 to $165;
Morgan Stanley: Maintain its buy rating and raise its target price to $161 from $159.
UBS: Maintain its neutral rating and raise its target price from $145 to $147.