Ross Stores (NASDAQ: ROST) posted Q4 earnings after the close of market yesterday. The earnings report beat estimates all over the place with more than 4% growth in comparable same store sales. The overall volumes for the store have also gone up as the populace has clearly started favoring off price departmental stores. The number of average consumers for any given period saw a sharp rise, along with significant increases in basket size as the units per transaction (UPT) and Average unit revenue (AUR) both displayed positive trends.

Cowen, as of late, has been largely bullish regarding ROST and a strong earnings report has reaffirmed the sell side firm’s conviction in the stock. The 4% growth in same store sales beat the street’s 1.4% growth estimate. Analyst Oliver Chen believes that the recipe to ROST’s success includes sticking to the basics of Retail and employing prudent exposure strategies for moderate consumers. The analyst seemed largely impressed with the same stores sales growth of 4% during the quarter and around 10% in 2 years. The margins for the store have improved in a very tough environment and tight inventory. Packaway inventory has caused a little Gross margin pressure but continued momentum in sales will likely negate the problem.

Cower maintained its price target of $63 and an Outperform rating on the stock with a very bullish view. On the other hand, MKM Partners has also taken a positive stance regarding ROST and upgraded the stock to a Buy with a price target raise to $65 from prior $52.

The analyst opinion on the stock has eight Strong Buys, eight Buys, 13 Holds and no Underperform or Sell ratings. The stock is currently trading at $58.67 showing a 4.5% rise when markets opened on Wednesday, after the earnings report.