Ross Stores Inc (NASDAQ:ROST) stock is up 3.4% at $237.17 this morning, after UBS upgraded the discount retailer to "buy" from "neutral" and raised its price target to $315 from $239. The firm said the company is narrowing its productivity gap with rival TJX Companies (TJX) under CEO James Conroy, who took over in February 2025.
ROST has been range-bound since pulling back from its Aug. 3 record high of $257, with the $240 level emerging as an area of resistance. The shares are up roughly 31% year to date, however.
Analysts are already leaning bullish on Ross Stores stock. Of the 21 brokerages in coverage, 16 carried a "strong buy" rating, compared to five "holds" coming into today.
Options traders have also been favoring calls. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and Nasdaq OMX PHLX (PHLX), ROST's 10-day call/put volume ratio of 3.32 ranks in the 90th percentile of its annual range.
